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Inside Mortgage Finance

October 12, 2007

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GSE Mortgage Guaranty Business Keeps Rolling Along Despite Third Quarter Industry Slump

The mortgage-securities guaranty businesses at Fannie Mae and Freddie Mac saw increased volume during the third quarter of 2007, including some significant shifts in the pace of loan deliveries by the government-sponsored enterprises'... [Includes three charts] Read More

Frank Supports Limited Plan to Raise GSE Portfolio Caps, Rejects Higher Loan Limits

Democrats on Capitol Hill are trying to patch together a temporary reprieve designed to get Fannie Mae and Freddie Mac more involved in addressing the liquidity squeeze in nonconforming mortgage loans. In the Senate, New York Democrat Charles Schumer wants to move... Read More

Industry Outlook for Third Quarter Earnings Bleak; GSE-Centric Model Unlikely to Produce Big Gains

The rally in mortgage banking profits that the industry unexpectedly reported in the second quarter is expected to give way to much more sour results in the second half of 2007 as companies are forced to swallow losses on their nonconforming operations and focus on... Read More

FHA Expects Overall Performance of Its Loans to Improve as it Refis Troubled ARM Borrowers

Helping delinquent adjustable-rate mortgage borrowers will actually improve the performance of the FHA portfolio, according to officials at the Department of Housing and Urban Development. According to a presentation by FHA officials, “FHASecure will not degrade the... Read More

Lenders Test Alternative Tool to Help Applicants Lacking Traditional Credit

With subprime and Alt A lending slowed to a crawl, lenders and community groups are looking for other ways to provide credit for borrowers who don’t meet traditional lending guidelines. R-HOME, a collaborative effort between CitiMortgage, First American, PMI... Read More

IBM Offers Outsourcing Solution to Lenders Struggling to Stay Profitable

Can an epic industry contraction and sharp downturn in housing markets be the right time to launch a new mortgage finance business? IBM thinks so. The Armonk, NY based company has formed IBM Lender Business Process Services Inc., which will specialize in... Read More

Lenders Call for Revisions in Frank’s Forthcoming Anti-Predatory Lending Bill

Mortgage lenders urged House Financial Services Committee Chairman Barney Frank, D-MA, to reconsider certain portions of anti-predatory lending legislation he plans to introduce soon and to refrain from making underwriting standards and product restrictions part of... Read More

Countrywide Scrambles to Top of Ginnie Mae Issuer Ranking as Program Gains Momentum

Countrywide Financial rode a strong third quarter to the top of the Ginnie Mae market, according to a new analysis and ranking by Inside Mortgage Finance. The California-based company issued $14.27 billion of Ginnie securities during the first nine... [Includes one chart] Read More

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