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Inside Mortgage Finance

May 4, 2007

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Gains in 2007 Prime and Alt A Volume Partly Offset Huge Contraction in Subprime Lending

The much hyped collapse of the subprime mortgage market in early 2007 largely overshadowed an otherwise solid first quarter in residential lending. An estimated $680 billion of home mortgages were originated during the... [Includes two charts and two graphs] Read More

HUD Brings More Focus to FHA Loss Mitigation Plans; OFHEO Limbers Up

Federal regulators plan to pay closer attention to FHA default issues and the booming FHA-insured reverse mortgage programs, according to a new Inside Mortgage Finance analysis of the Bush administration’s latest regulatory plan... [Includes one chart] Read More

Flaws Seen in Proposed Subprime ARM Guidance As States Work on Coordinated Supervisory Approach

A proposed federal statement on subprime lending could lead to increased liability for mortgage lenders, make subprime ARMs less accessible to first-time and minority homebuyers, trap homeowners in bad loans, and create assorted compliance problems, warned industry... Read More

Dodd Forges Plan with Industry Groups To Avert Subprime Mortgage Foreclosures

A range of mortgage market participants this week pledged to push for loan modification and early contact with borrowers in response to rising defaults and foreclosures in the subprime market. Sen. Chris Dodd endorsed the seven principles and offered a blunt... Read More

Fannie Mae Says Most Subprime Borrowers Facing Payment Shock Will Qualify for Refi

Four out of five subprime borrowers facing increased mortgage payments in the next two years will qualify for a refinance with Fannie Mae, according to the government-sponsored enterprise. This week at Information Management Network’s Spring ABS conference in... Read More

OTS Reiterates Nontraditional Mortgage Policy, Updates Examiner Guidelines

The Office of Thrift Supervision this week clarified its expectations for compliance with controversial regulatory guidance on nontraditional mortgages, emphasizing that it covers all lending operations in a thrift holding company. “OTS is bringing the... Read More

House Democrats Fend Off Critics of AHF Provision in FHA Bill, Panel Approves Mortgage Broker Measures

The House Financial Services Committee this week approved several key amendments to a legislative proposal to modernize the FHA single-family program, including stronger consumer protections and broader participation by mortgage brokers. The biggest controversy in... Read More

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