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Inside Mortgage Finance

April 22, 2010

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Industry Groups Raise Concerns About Brewing International Capital Change Hit to Servicing

Mortgage industry groups are urging international banking regulators to step carefully before they implement proposed capital changes that could prompt a number of firms to dump their mortgage servicing rights. Under a December 2009 proposal issued by the Basel Committee on Banking Supervision, a revised definition of Tier 1 capital would no longer... [Includes one chart] Read More

2010 Mortgage Market Off With a Thud as Originations, Profits Drop Among Top Banks

Early indicators point to a soggy first quarter in 2010 as top commercial banks have reported declines in new mortgage originations and sagging earnings from the sector. An Inside Mortgage Finance analysis of first-quarter earnings reports from six of the largest bank lenders in the mortgage market reveals a drop of 17 percent... Read More

Opponents Set Aside War of Words, Find Hope in New Talks Between Dodd, Shelby on Reform Bill

Senate Democrats and Republicans this week appeared to be backing off from their fiery rhetoric and signaling a willingness to negotiate over financial regulatory reform, prompting speculation that a bipartisan agreement could be reached by the end of the week.Although both sides continued lobbing charges at each other on the Senate floor this... Read More

Home Purchase Mortgage Market Now Dominated By First-Time Homebuyers, New Research Shows

At a time when the mortgage lending community is increasingly looking to the home purchase market as a source of new business, first-time homebuyers are suddenly emerging as the industry’s hottest prospects. According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate... [Includes one chart] Read More

Mortgage Insurers’ Outlook Seen as Improving But Make Little Headway Reclaiming Market Share

Cautious optimism might be the best catch-phrase to express the near-term future for the nation’s mortgage insurers, which are seeing increases in analysts’ price targets as first quarter results are just starting to be released. “Over the past several months, the landscape has materially changed for the mortgage insurers,” said analysts at Keefe Bruyette & Woods in a recent report in... Read More

DOJ’s Civil Rights Division to Give More Attention to Fair Lending Enforcement, New Chief Tells Lawmakers

The Department of Justice’s top civil rights enforcer this week assured Congress that enforcement of fair housing and fair lending protections is among the department’s top priorities and that efforts in this area will continue to be strengthened under the Obama administration. Testifying during a Senate Judiciary Committee hearing, Assistant Attorney General Thomas Perez... Read More

HAMP Still Taking Flak for Sluggish Start, Failing to Keep Up With Housing Problems

The Treasury Department has made progress in altering and implementing its half-dozen or so foreclosure prevention initiatives, but the slow implementation of these efforts is preventing them from having a large impact on the massive numbers of borrowers who are in danger of default, said a recent report from the Congressional Oversight Panel. The COP estimated that the... Read More

Partisan Divide Remains on Whether Government Emphasis on Affordable Housing Helped Market Fail

Republican members of Congress continue to claim that the federal government’s long-standing emphasis on affordable housing played a significant role in the excesses that led to the collapse of the housing market and the fall of Fannie Mae and Freddie Mac. In the House Financial Services Committee, where some lawmakers are considering expanding the... Read More

Homebuilders, Realtors Seek Reform, Longer Term for Federal Flood Insurance Program

The nation’s housing industry called for longer-term reauthorization and reform of the National Flood Insurance Program as Congress this week considered proposed measures aimed at improving and strengthening the program’s coverage and services. The House Financial Services Subcommittee on Housing and Economic Opportunity held a hearing this week to examine... Read More

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