Cart

Inside Mortgage Finance

June 4, 2009

View Archived Issues

Delinquency Rates Continue to Climb in 2009, But Deterioration May Be Slowing

The mortgage market clearly has a lot of problem loans to work through, but there are signs that the freefall in loan performance trends may be slowing down. The Inside Mortgage Finance Large Servicer Delinquency Index shows that a record 9.11 percent of home mortgages were in either default or the foreclosure process as of the end... [Includes two charts and one graph] Read More

FTC Assumes Mantle of Mortgage Regulator with Two Proposed Rules on Unfair, Deceptive Mortgage Practices

The Federal Trade Commission last week carried out a mandate imposed by the 2009 Omnibus Appropriations Act by issuing proposed rules aimed at curbing unfair and deceptive mortgage practices at financial institutions the agency regulates. The agency is seeking comments on two proposed rules which would determine whether certain mortgage-related activities... Read More

Viability of Private Mortgage Insurers, Keeping Key GSE Staffers, Concern Fannie, Freddie Regulator

Congress this week began exploring the future roles of Fannie Mae and Freddie Mac in a post-conservatorship world, but the regulator of the government-sponsored enterprises is concerned about more immediate issues such as the wobbly condition of the private mortgage insurance industry. “The vulnerability of the private mortgage insurance industry is [one of our concerns],” said... Read More

OTS Recommends Proceeding with Caution When Dealing with Losses

The Office of Thrift Supervision last week cautioned lenders to take extra care in calculating loan loss reserves in a mortgage market that continues to suffer from slumping house prices, rough economic conditions and rising default rates. The agency recommends that thrifts use both lagging data, such as historical loss rates, and leading data, such as migration analysis, to predict loss... Read More

FHA Borrowers Can Use New Tax Credit, But Not as Substitute for Downpayment

The Department of Housing and Urban Development surprised some market observers by laying down fairly conservative ground rules on the use of the new $8,000 homebuyer tax credit for FHA loans by still requiring these borrowers to make the minimum 3.5 percent downpayment from their own funds. As part of the American Recovery and Reinvestment Act of 2009, Congress revamped the tax... Read More

Banking Agencies Propose Registration of Mortgage Originators Employed by Federally Regulated Lenders

Federal financial institutions regulators last week moved to strengthen consumer protections with a proposed rule requiring mortgage loan originators employed by federally regulated entities to register with the Nationwide Mortgage Licensing System and Registry, a multi-state database created to keep track of unscrupulous mortgage brokers and loan originators. The proposed... Read More

Thrifts See Surge in Originations In Early 2009, Improved Financials

Thrift institutions posted an aggregate loss of $47.3 million during the first quarter of 2009 despite a solid increase in mortgage lending and earnings on their bread-and-butter business. The first quarter loss followed a $5.36 billion industry loss in the fourth quarter and represented its sixth consecutive quarterly loss, according to the Office of Thrift... [Includes one chart] 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