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Inside Mortgage Finance

April 4, 2008

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Fannie, Freddie See Burst in New MBS Issuance Despite Tightening Guidelines and Raising Prices

With little competition in the conventional mortgage market, Fannie Mae and Freddie Mac in early 2008 have been able to significantly increase their business volume while raising credit standards and charging more for their services... [Includes three charts] Read More

Senate Reaches Deal on Mortgage Relief As Part of Second Economic Stimulus Bill

The Senate this week reached a bipartisan agreement for a housing stimulus package that includes a compromise on FHA modernization, enhanced mortgage disclosure requirements and several targeted programs aimed at stemming foreclosures. Significantly, the... Read More

HUD Tweaks FHASecure to Qualify More Distressed Subprime Borrowers

The Department of Housing and Urban Development is making some major adjustments to its single-family mortgage refinancing program, FHASecure, to allow approved lenders to qualify more delinquent borrowers, including those with subprime fixed-rate... Read More

HUD Tightens Jumbo Rules For Declining Markets

The Department of Housing and Urban Development this week announced that jumbo FHA loans made in declining markets will need a second appraisal. According to Mortgagee Letter 2008-09, a second appraisal will be required if the loan amount... Read More

Despite Continuing Problems, Short Sales Now Account For 1 in 5 Home Sales, New IMF-Sponsored Study Finds

The mortgage industry’s ongoing attempts to reduce mortgage defaults and losses in the current depressed housing market have produced a big jump in the number of pre-foreclosure and short sales now taking place. Nevertheless, problems – ranging from... [Includes two charts] Read More

Paulson Blueprint’s Mortgage Origination Commission Generates Support, Criticism, and Constitutional Issues

Treasury Secretary Henry Paulson this week unveiled a controversial proposal to create a new federal oversight agency to make sure state mortgage regulators are doing their job. Part of a much broader blueprint for sweeping reforms to the... Read More

Jackson Resignation Won’t Disrupt RESPA Rulemaking, Industry Stakeholders Say

The resignation this week of President Bush’s top housing regulator will not have a significant impact on efforts to reform the mortgage settlement process, according to industry sources. The process of crafting a rule streamlining Real Estate Settlement... Read More

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