Cart

Inside Mortgage Finance

November 20, 2008

View Archived Issues

‘Agency’ Mortgage Market Continued Gaining Share in Troubled 3rd Quarter

A whopping 86 percent of new mortgage originations made during the third quarter of 2008 were funded through government-supported secondary markets as liquidity for virtually all non-conforming products became scarcer. Some $257 billion of mortgages eligible for FHA, VA, Fannie Mae or Freddie Mac programs were made during the third quarter, according to a... [Includes five charts] Read More

FDIC Proposes Guaranty Program for Modified Mortgages, But Can’t Get Treasury to Pay for It

The Federal Deposit Insurance Corp. this week detailed a loss-sharing proposal for modified home mortgages that would cost an estimated $24.4 billion, but the agency hasn’t convinced Treasury it should pay for the program with money from the Troubled Assets Relief Program. Based on its experience with a mass-modification program for IndyMac mortgages, the FDIC estimates... Read More

Industry Will Try to Reach New RESPA Compromise And Convince Obama Administration to Go Along

Mortgage lender groups will try to seek improvements, if not a new rule, next year from the Obama administration after being disappointed with the final Real Estate Settlement Procedures Act regulations issued by the Department of Housing and Urban Development last week. Overall, lender trade groups acknowledged that HUD made some changes in the final rule in response to... Read More

Increased GSE Seller Concentration Posing Buy-Back Problems for Fannie and Freddie

The continuing deterioration in the mortgage markets is forcing the government-sponsored enterprises and lenders to play hardball with one another, but Fannie Mae and Freddie Mac are finding that the increasing concentration of their business limits their ability to dictate terms as much as they had in the past. This is particularly becoming the case when it comes to troubled mortgage buybacks, an... Read More

Sunk by Massive 3rd Quarter Writedowns, Freddie Mac Has to Take Treasury Lifeline

The U.S. Treasury is expected to pump $13.8 billion into Freddie Mac after the government-sponsored enterprise reported a huge $25.3 billion loss during the third quarter that drove shareholder equity into the red. Fannie Mae so far has managed to stay afloat despite a huge $29.0 billion loss reported earlier, but observers question how much government support the two GSEs will need in... Read More

Banking Agencies Propose New Appraisal Guidelines, Fannie Mae Moves Ahead Without Final GSE Deal

While the mortgage industry continues to wait for new appraisal requirements stemming from complaints raised by the New York attorney general, federal regulators this week proposed to overhaul their appraisal standards and Fannie Mae has moved independently to toughen its rules. The Federal Housing Finance Agency has still not completed a final agreement with the New York... Read More

HUD Makes Anticipated Changes To HOPE for Homeowners Program

A month after launching the HOPE for Homeowners refinance program to a less than enthusiastic reception, the Department of Housing and Urban Development this week announced changes designed to increase the program’s flexibility and encourage more lenders and servicers to participate. H4H loans can now have loan-to-value ratios as high as 96.5 percent – up from 90 percent – and... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results