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Inside Mortgage Finance

April 13, 2007

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OFHEO Says Fannie Not Managing Counterparty Risk, Freddie Slow to Make Organizational Changes

Managing the risk posed by its major business partners is one of the biggest challenges not yet resolved by Fannie Mae, according to the government-sponsored enterprise’s chief federal regulator. “Risk from counterparties and concentrations in similar types of... Read More

Subprime Mortgage Virus Spreading To Larger, More Diversified Lenders

Diversified powerhouse lenders such as Countrywide Financial and Washington Mutual are feeling some of the heat from the meltdown of the subprime mortgage market. Investors are concerned, and analysts agree, that the upheaval in the subprime market will spread beyond... Read More

Frank Details Anti-Predatory Lending Legislation Priorities

Anti-predatory lending legislation set to be introduced by Rep. Barney Frank, D-MA, will address federal preemption and crack down on lender incentives, the congressman said. Frank, the chairman of the House Financial Services Committee, sent a letter to his... Read More

Congress Considering Federal Solution To Increase in Subprime Foreclosures

Responding to a growing clamor from consumer advocates and community groups, lawmakers on Capitol Hill are looking at potential federal solutions to rapidly rising subprime mortgage foreclosures – an approach that some industry attorneys say could lead to trouble... Read More

Bear Stearns, New Century Hit with Lawsuits In Disputes Over Mortgage Repurchases

Bear Stearns and New Century Financial are facing lawsuits seeking $20 million and $3.8 million, respectively, for alleged breaches of loan performance and servicing agreements. Performance Credit Corp., previously known as Encore Credit Corp., last week filed a suit... Read More

New Study Reveals What Lenders Need to Do To Boost Business with Minority Borrowers

Mortgage lenders looking to boost their business with minority borrowers to capitalize on so-called emerging markets should be prepared to offer some sort of foreign language service as well as alternative loan products. That is one of the many significant... Read More

Ginnie Mae Issuance Dominated by Large Lenders in 2007; Wells Fargo Slows Down

A handful of large lenders continued to dominate the Ginnie Mae MBS program in early 2007, with Wells Fargo maintaining its role as the top player in the market. Wells Fargo issued $4.56 billion of new Ginnie Mae MBS during the first three... [Includes one chart] Read More

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