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Inside Mortgage Finance

November 23, 2007

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Retail Production Continued Gaining Share As Market Contracted During Third Quarter

The collapse of the non-conforming mortgage market and an accelerating focus on credit quality helped dampen wholesale production volume during the third quarter, according to a new market analysis and ranking by Inside.... [Includes five charts] Read More

Freddie Mac Takes a Pounding in Third Quarter; Forced to Pursue Capital Management Help

Freddie Mac this week announced a record net loss of $2.0 billion in the third quarter after being battered on all sides by rising credit losses and declining market values for its retained portfolio. It marked the fourth quarterly loss out of the past five... Read More

Freddie Mac Raises Delivery Fees as GSEs Cope With Deteriorating Market Conditions

A standing joke in the mortgage banking industry used to be that lenders lost money on every loan they originated, but made it up with volume. It’s starting to look like the government-sponsored enterprises are gaining share in a collapsing market, and taking... Read More

Proposed RESPA Rule to Require Reading of Loan Details to Borrowers Prior to Closing

Mortgage settlement agents may be required to read a Miranda-like statement to borrowers at closing under a proposed rule streamlining Real Estate Settlement Procedures Act regulations to ensure that borrowers understand the details of the loan they have selected... Read More

Vote on FHA Reform Delayed Just as Senators Reach Agreement on Risk-Based Pricing Scheme

FHA reform legislation bypassed a stumbling block in the Senate last week only to trip over a bigger hurdle that could delay further action until December or later. The House of Representatives approved its FHA reform legislation back in September... Read More

House Approves Anti-Predatory Lending Bill; Senate Passage Seen as Less Likely

Mortgage industry lobbyists have set their sights on the Senate after failing to win many concessions from the House on recently passed anti-predatory lending legislation. The House approved its version of the bill late last week, making few tweaks to the... Read More

Underwriting to Tighten Further as Investors Remain Wary, Lenders Turn More to Conservative Practices, Experts Say

The mortgage industry will likely face tougher underwriting standards and enforcement as faulty underwriting gets increasingly blamed for the subprime mortgage market mess, according to compliance and market experts. Mortgage industry participants in... Read More

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