Cart

Inside Mortgage Finance

August 20, 2009

View Archived Issues

Agency Mortgage Programs Continue to Dominate New Loan Originations at Midway Point in 2009

The slump in non-conforming mortgage originations stretched toward the two-year mark as agency production levels continued to hit record levels during the second quarter of 2009, according to a new Inside Mortgage Finance analysis and ranking. Non-conforming mortgage production – including subprime, Alternative A and jumbo originations... [Includes three charts] Read More

Servicers Not Pushing HARP Refis; Volume Tied Primarily to Rate Changes, GSEs Say

The Obama administration’s Home Affordable Refinance Program added some momentum to an already burgeoning refinance market in 2009, but activity in the program has been subject to the same interest-rate trends that drive the refi business in general. Fannie Mae and Freddie Mac have financed nearly 2.9 million refinance loans through the first seven months of 2009, but the HARP program... Read More

HUD Chief Says Agency Still Committed to Planned RESPA Rule Implementation Date

The Department of Housing and Urban Development will implement regulatory changes under the Real Estate Settlement Procedures Act on Jan. 1, 2010, as planned and will not be swayed by industry pleas to extend the effective date. In a statement issued this week, HUD Assistant Housing Secretary and FHA Commissioner David Stevens said that he has had very constructive meetings with industry... Read More

Ginnie President Departs for Private Sector; Agency Faces Challenges as Volume Soars

Joseph Murin left his post as president of Ginnie Mae this week, moving into the private sector just nine months after his re-appointment and leaving an agency that continues to post record volume in its mortgage-backed securities guaranty business without any significant increase in resources. Murin, who served as Ginnie’s president since January 2008, said he’s been contemplating... Read More

Feds Say Proposed CFPA Has a Long Way to Go to Provide Adequate Oversight of Mortgage Lending

Some federal regulators grudgingly acknowledged recently that the Obama administration’s proposed Consumer Finance Protection Agency might address, to a limited extent, some of the causes of the current mortgage crisis. But far more will have to be done with the concept before they can embrace it as a definitive, viable entity in that regard, jurisdictional turf skirmishes notwithstanding... Read More

GAO Calls for Changes in HMDA, ECOA, Use of Testers to Strengthen Oversight, Enforcement of Fair Lending Laws

Congress and federal banking regulators are getting pressure to update federal fair lending laws and to strengthen fair lending oversight and enforcement by considering the use of testers, surveys and other means to better assess discrimination risk early in the mortgage lending process. A new Government Accountability Office report concluded that lack of data and a fragmented... Read More

Mortgage Default Rates Continued to Deteriorate During the Second Quarter, Reach Record Highs

Mortgage delinquency and foreclosure rates surged to new records during the second quarter, with loan performance continuing to deteriorate across every category of the mortgage market. Some 11.18 percent of home loans were in some stage of delinquency or foreclosure as of the end of June, according to the Inside Mortgage Finance Large... [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