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Inside Mortgage Finance

May 23, 2008

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Refi Boom in Conforming Market, But Non-Agency Mortgage Production Hits New Lows in Early 2008

The mortgage market in early 2008 relied more heavily on refinance business than at any time since the historic landslide of 2003, with conforming markets picking up most of the volume, according to a new analysis and ranking by Inside Mortgage... [Includes five charts] Read More

Senate Banking Panel Lowers High-Cost Loan Limit in Compromise on Omnibus Housing Bill

The Senate Banking, Housing and Urban Affairs Committee this week overcame years of partisan impasse over reform of the government-sponsored enterprises and approved sweeping mortgage legislation that many observers think actually has a chance of... Read More

Under Growing Pressure, Fannie and Freddie Back Down a Bit on Declining Markets Policy

Fannie Mae and Freddie Mac have abandoned significant portions of their controversial policies on “declining markets” policies, but both government-sponsored enterprises will continue to impose additional fees on these loans that also face challenges in... Read More

Fannie Mae Expands Conforming Jumbo Program as Production Remains Sluggish

Running a distant third in the new conforming jumbo derby, Fannie Mae late last week announced expanded parameters for a program that has been slow to gather momentum. Fannie Mae so far has produced just $2.6 million in mortgage securities backed by conforming... Read More

Loss Mitigation Timelines Increasing as Mortgage Servicers Struggle to Help Troubled Borrowers

The servicing industry seems to be strained as increasing numbers of mortgage borrowers continue to miss payments. During an audio conference this week sponsored by Inside Mortgage Finance, participants agreed that servicers are swamped. Edward Delgado... Read More

Lenders Worry about Increased Penalties in Flood Insurance Reform Legislation; Veto Threat Looms on Wind Coverage

The mortgage industry last week warned House and Senate negotiators against passing any flood insurance reform legislation that may lead to a drastic cutback in affordable insurance in flood-prone areas. The industry plea came after the Senate’s passage May 13... Read More

MBA Calls On Policymakers to Consider Differences Between Brokers, Lenders in Drafting Legislation

The Mortgage Bankers Association this week urged lawmakers and regulators to resist pressure to pursue a one-size-fits-all regulatory approach for both mortgage bankers and mortgage brokers and, instead, to consider measures that take into account the... Read More

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