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Inside Mortgage Finance

March 30, 2007

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Problems in Subprime Market Bring New Energy To Capitol Hill Debate on Mortgage Legislation

A growing number of lawmakers on both sides of the aisle are becoming increasingly intent on enacting new mortgage lending legislation in response to the ongoing turmoil in the subprime market – whether federal regulators show much enthusiasm or not.At a House... Read More

House Panel Moves GSE Reform Legislation to Floor Vote, More Debate on Affordable Housing Fund Ahead

The House Financial Services Committee this week approved a sweeping overhaul of laws governing Fannie Mae and Freddie Mac, including potentially tougher restrictions on new program deployment and growth in their retained portfolios. While making a number of minor... Read More

Merger of Civil Rights, Consumer Protection Creates Different Compliance Regime for Lenders, Experts Say

The upheaval in the subprime market has created new compliance challenges for the mortgage industry as the regulatory view of fair lending and consumer protection has changed dramatically from distinctly separate legal concepts to a merger of consumer and civil... Read More

Wells Fargo Ranks as Top Purchase-Money Lender In 2006, Countrywide Leads in Resilient Refi Market

Mortgage refinance activity continued to account for a hefty 49.0 percent of originations in 2006, despite slower gains in house prices and muted rate-term refinance activity. The refinance share of total production dropped... [Includes two charts] Read More

Replenishment Rates Slow in 2006 as Top Lenders Look to Bulk Deals for Servicing Growth

Servicing replenishment rates – a measure of a lender’s ability to grow its servicing business through organic originations – declined during 2006 as overall mortgage production levels cooled. A new Inside Mortgage Finance analysis... [Includes one chart] Read More

Freddie Blames Interest Rate Movements, Market Value Accounting for Weak Second Half Results

Freddie Mac last week reported a $480 million loss for the fourth quarter of 2006, after a third quarter loss of $715 million, and continuing problems meeting its own targets for financial reporting.The government-sponsored enterprise’s $1.2 billion loss for the... Read More

Subprime Problems to Cost Prime Lenders Significant Volume, Analysts Predict

Prime lenders so far have escaped the problems facing the subprime market, but some analysts suggest that the worst is yet to come. Significantly, some predict that the troubles causing a growing number of subprime lenders to cease operations will spread to Alt A... Read More

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