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Inside Mortgage Finance

May 25, 2007

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Mortgage Market Shifts Away from Correspondent Production; Countrywide Tops in All Channels

Retail lending and broker originations accounted for slightly larger shares of the mortgage origination market in the first quarter of 2007, according to a new Inside Mortgage Finance ranking and analysis. Mortgage lenders produced an... [Includes six charts] Read More

Regulators Keep Pressing for Tougher Standards In Subprime Market; Stated Income Under Fire

A key bank regulator this week called for tougher federal guidelines against the use of stated income underwriting in the subprime mortgage market, and it’s becoming increasingly clear that the agencies are going to be working on these issues for some time to... Read More

Borrowers Could Have Hard Time Qualifying For Fannie Mae’s Subprime Rescue Program

Fannie Mae recently pledged to invest billions of dollars to help subprime borrowers refinance into prime products, but as details on the program emerge, it looks like it will be difficult for many subprime borrowers to qualify. The government-sponsored enterprise... Read More

Worse for Subprime Market is Yet to Come As Mozilo Predicts Recovery in Mid-2008

Subprime volume will continue to sag through the middle of next year before production picks up again, according to the co-founder of top-ranked lender Countrywide Financial. At the surprisingly well-attended Mortgage Bankers Association’s secondary market conference... Read More

MBA Calls for Prudent Rulemaking as Mortgage Lenders Try to Help Borrowers Avoid Foreclosure

The Mortgage Bankers Association called for regulatory and legislative prudence at a time when the industry is strengthening subprime lending standards and helping troubled subprime borrowers avoid foreclosure. In remarks at the National Press Club in... Read More

No Surprises as House Passes GSE Reform Bill,But Much Uncertainty Resides in the Senate

The House of Representatives wrapped up its consideration of H.R. 1427, the Federal Housing Finance Reform Act of 2007 this week, passing the measure without any new surprises. But the some-what weaker language on regulatory authority over the retained... Read More

Tightened Credit Underwriting will have Delayed Impact on Industry, Experts Say

While there has been little evidence to date that lenders have actually tightened underwriting standards, significant changes made by institutions to their subprime lending and securitization guidelines since the beginning of the year will show their effects... Read More

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