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Inside Mortgage Finance

April 29, 2010

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Refinance Market Withers in Early 2010, Sending Mortgage Production Volume Sharply Lower

Mortgage interest rates stayed at historically low levels in early 2010, but there were fewer mortgage borrowers prepared to take advantage of refinance opportunities as new originations tumbled significantly, according to a new Inside Mortgage Finance ranking and analysis. A total of just $320.0 billion of new residential mortgages... [Includes two charts and one graph] Read More

Shelby Reports Limited Progress on Reform Talks But Republicans Agree to Debate in the Senate

Sen. Richard Shelby, D-AL, said this week that he and Sen. Chris Dodd, D-CT, chairman of the Senate Committee on Banking, Housing and Urban Affairs, are nearing an agreement on some portions of the regulatory reform bill but are still at odds on consumer protection.Although Senate Democrats failed three times early this week to overcome Republican objections and... Read More

House Committee Passes Bill Giving FHA More Power, Puts Aside Downpayment, Risk-Based Pricing Proposals

The House Financial Services Committee this week passed a bill to boost FHA enforcement powers and flexibility over underwriting standards. But more proposals to change the program are likely to come up when the bill comes to the House floor. In its major elements, the FHA Reform Act of 2010, H.R. 5702, closely tracks the Obama administration’s legislative proposal... Read More

Agencies Step Up Data Improvement Efforts, Push to Bolster Quality Through Technology

Fannie Mae, Freddie Mac and the FHA have been pressed to address a number of catch-up technology projects, but the agencies are increasingly focused on efforts to bolster loan quality in future business, according to officials speaking at this week’s Mortgage Bankers Association technology conference in Chicago. At the FHA, officials have been able to redirect some of their technology... Read More

House Financial Services Committee Votes to Extend NFIP Until 2015, Phase Out Program Subsidies for Second Homes

The House Financial Services Committee this week approved flood insurance reform measures that would reauthorize the National Flood Insurance Program for up to five years and phase out flood insurance premium subsidies for second homes and vacation properties. The bill, H.R. 5114, the Flood Insurance Reform Priorities Act, was approved by voice vote during markup April 27... Read More

Bipartisan GREEN Act Leaves Out Fannie, Freddie Energy-Efficient Provisions

Democrats in the House Financial Services Committee agreed to leave Fannie Mae and Freddie Mac out of the mix in a new energy efficiency bill approved this week as a way to attract Republican support for the Green Resources for Energy Efficient Neighborhoods Act. In its original form, the GREEN Act, H.R. 2336, would have given the government-sponsored... Read More

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