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Inside Mortgage Finance

March 23, 2007

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Massive Amounts of Subprime Volume In Flux as Sector’s Problems Persist

The independent finance companies that led the rapid expansion of the subprime mortgage market over the past decade may be nearing extinction. According to an Inside Mortgage Finance analysis, about 27 percent of the subprime industry’s... [Includes two charts] Read More

Frank Says Anti-Predatory Lending Bill will Combine Components of Fair Lending, Consumer Protections

The chairman of the House Financial Services Committee this week said he will introduce comprehensive anti-predatory lending legislation that will address price discrimination and and establish accountability standards that could reach as far as the secondary... Read More

GSEs Invoke Subprime Market Turmoil, Urge Caution To Avoid Damage as Lawmakers Eye Reform Legislation

The chief executives of Fannie Mae and Freddie Mac played the subprime card in urging members of the House Financial Services Committee to be cautious in their efforts to reform the oversight of the nation’s government-sponsored enterprises. “We support strengthening... Read More

Blackstone Affiliate to Buy Mortgage Operations as PHH Reinvented Again

GE Capital Solutions has agreed to acquire PHH Corp in an all-cash transaction worth about $1.8 billion, roughly a 13 percent premium. As part of the deal, GE will sell the prime mortgage origination and servicing operations of PHH to an affiliate of The Blackstone Group... Read More

Optimism Remains High on FHA Reform Despite Critical HUD IG, GAO Reports

Critical reports from two federal auditing agencies may make it harder for the Department of Housing and Urban Development to make a case for FHA reform, but some industry participants say the recent warnings could have a positive impact. Reports issued separately by... Read More

Mortgage Brokers Laud Frank’s Plan for Equal Treatment in Predatory Lending Bill

Mortgage brokers this week said they liked what they heard from the chairman of the House Financial Services Committee, who expressed support for some of the key issues on the National Association of Mortgage Brokers regulatory and legislative agenda for 2007... Read More

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