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Inside Mortgage Finance

April 25, 2008

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Mortgage Production Volume Rallies in Early 2008, But Market Remains Very Choppy

It’s too soon to call this a recovery, but mortgage origination activity was modestly stronger in early 2008 than in late 2007, according to a new analysis and ranking by Inside Mortgage Finance.Based on early survey results... [Includes two charts and one graph] Read More

Fed Open to Adjusting Proposed HOEPA Triggers As Industry Groups Call for Higher Benchmarks

The Federal Reserve Board may be willing to use a narrower definition of subprime mortgages that would be subject to tougher consumer protection requirements under an emerging overhaul of the agency’s rule implementing the Home Ownership and Equity... Read More

OFHEO Settles With Former Fannie Officials for a Fraction; Light Touch Suggests Insufficient Regulatory Authority

The Office of Federal Housing Enterprise Oversight ended years of legal wrangling by agreeing to take about one seventh of the amount it originally sought to recover from former Fannie Mae officials in the wake the company’s massive financial restatement... Read More

Dodd Schedules GSE Vote

Recent private meetings between key Senate lawmakers, the Bush administration and Fannie Mae and Freddie Mac may finally be dislodging the legislative logjam that has stalled efforts to overhaul the government-sponsored enterprises. The Senate Banking... Read More

Bush Administration Has to Go to Its Bench As Housing Crisis Enters a Critical Inning

President Bush tapped an experienced government administrator with little direct housing or mortgage background to shepherd the Department of Housing and Urban Development during the final months of his term. Steve Peterson, currently chief of the... Read More

Mortgage Industry Skeptical Over Appraisal Agreement Between GSEs, OFHEO, and the NY Attorney General

An unusual proposed plan to tighten appraisals agreed to by Fannie Mae, Freddie Mac, the New York attorney general and the Office Federal Housing Enterprise Oversight needs to be changed significantly – or scrapped altogether – according to industry... Read More

HUD Not Budging on RESPA Comment Period But Says It’s Willing to Meet Groups One-on-One

The Department of Housing and Urban Development continued to resist industry calls to extend the comment period for a controversial proposal to rewrite its Real Estate Settlement Procedures Act rule, but expressed willingness to meet with individual groups to... Read More

House Panel Approves Loss Mitigation Safe Harbor For Servicers, $15 Billion for Foreclosed Properties

The House Financial Services Committee this week approved two pieces of housing legislation and continued to debate legislation that would allow the FHA to refinance troubled loans. The committee approved a bill by voice vote that would... Read More

Chicago FHLBank to Wind Down its MPFP Participation; More Tough Calls Ahead as Bank Bolsters Its Balance Sheet

The tough mortgage market environment and the absence of a merger partner have forced the Federal Home Loan Bank of Chicago to announce this week that it is winding down its participation in the Mortgage Partnership Finance Program. Effectively immediately, the... Read More

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