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Inside Mortgage Finance

August 17, 2007

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Surge in Prime Credit Lending Boosts Total Originations in 2Q07; Alt A Nears Record

Five of the mortgage market’s key cylinders were firing strongly in the second quarter, helping to offset a severe drop in subprime loan production, according to a new Inside Mortgage Finance ranking and analysis. Prime jumbo and conventional... [Includes five charts] Read More

Prime Interest Rates Drop, Non-Agency Rates Skyrocket as Problems Continue to Plague Jumbo, Subprime Sectors

Interest rates for jumbo and subprime mortgages have increased significantly this month relative to rates on agency-eligible prime mortgages as the meltdown in the nonconforming market hits consumers as well as lenders and investors. In fact, interest rates on... Read More

New Research Shows Tightening of LTV and FICO Requirements Biggest Changes in Nonprime Market

Scrambling to reassure panicky investors that the mortgage industry has reined in risky lending practices, wholesale lenders have been tightening underwriting standards – particularly for nonprime mortgages. But nowhere have the tougher... [Includes two charts] Read More

Industry Appeals OFHEO Decision to Maintain Fannie, Freddie Portfolio Caps

The mortgage industry is lobbying the Office of Federal Housing Enterprise Oversight to reverse its recent decision to maintain the temporary portfolio caps imposed on Fannie Mae and Freddie Mac after their massive accounting scandals and managerial shakeups. “The... Read More

Agencies Seek Public Comment on Proposed ARM Disclosure Formats

Federal thrift and banking regulators this week proposed two sample disclosures for adjustable-rate mortgages designed to alert consumers to payment shock and other risks. The proposed “illustrations of consumer information for subprime mortgage... Read More

Tough Market Conditions, GSE Status Benefiting Fannie and Freddie Stock Prices, Business Prospects

The continued deterioration in the mortgage and credit markets induced by the taint of subprime mortgages is boosting the fortunes – and the stock valuations – of the two largest holders of subprime mortgages: Fannie Mae and Freddie Mac. Freddie had $120.8 billion... Read More

Industry Seeks Targeted HOEPA Rulemaking, Consumer Groups Want Swift, Decisive Action

Industry and consumer groups expressed support for the Federal Reserve’s use of its rulemaking authority under the Home Ownership and Equity Protection Act to curb mortgage fraud and abusive lending, with one side advocating caution and the other calling... Read More

Fannie Eyes Litton Loan Servicing

Sources close to Fannie Mae confirmed this week that the government-sponsored enterprise is looking at acquiring special mortgage servicer and loss mitigation expert Litton Loan Servicing. Litton, the 21st largest mortgage servicer in the country as of Jun. 30... Read More

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