Cart

Inside Mortgage Finance

May 6, 2010

View Archived Issues

GOP Floats Proposal to Restrict Consumer Protection Agency to NonBank Institutions

A number of consumer protection amendments have been submitted for consideration as the Senate began debate on regulatory reform this week even as a draft of a Republican plan to restrict the rulemaking authority of a proposed consumer protection agency circulated among lawmakers. More than 85 amendments to S. 3217, the Restoring American Financial Stability Act of 2010... Read More

Most Top Mortgage Servicers Continue to See Decline in Portfolio Balance as Market Shrinks

The residential mortgage servicing market continued to contract during early 2010, and with no major acquisitions the competitive complexion of the industry remained mostly unchanged. Early indicators from the largest servicers suggest that the supply of mortgage servicing in the market declined for the eighth consecutive quarter. After peaking at a record... [Includes one chart and one graph] Read More

MIs See Delinquencies Improving, Private Capital Returning, But Uncertainty About Future Remains

Private mortgage insurers are seeing a distinct improvement in delinquencies and a return of private investor capital as market optimism about the sector improves, yet uncertainty about what role they might have in the mortgage finance system of the future clouds the otherwise brightening view, according to analysts at Moody’s Investors Service. “One key thing to note is we’re... Read More

DOJ Blends Enforcement Strategy, Merging Home Loan Discrimination With Consumer Protection

The Department of Justice appears to be merging fair lending and consumer protection in an aggressive enforcement push against lending discrimination and fraud. The DOJ’s newly created Fair Lending Unit is investigating major lenders for potential fraudulent practices targeted to minority communities, including redlining, reverse redlining and pricing... Read More

Administration Threatens to Withhold Servicer Payments, Expose Poor Loan Mod Performance

The Obama administration is turning up the heat on mortgage servicers to generate greater loan modification success by threatening to withhold their incentive payments under the Home Affordable Modification Program and publicly expose those that are under-performing. On one front, Treasury is threatening to withhold and even claw back HAMP incentive payments made... Read More

Regulatory Turmoil Likely to Continue for Some Time, Even Without Massive Financial Reform Bill

Having managed to digest a major overhaul of consumer disclosure requirements under new Real Estate Settlement Procedures Act regulations, the mortgage industry still faces a daunting pipeline of new federal compliance challenges, according to a new regulatory agenda. And that’s not including the myriad changes that are likely to be required if Congress succeeds in... Read More

Fannie Tightens ARM Underwriting, ARM Originations Down Due to Poor Performance

Fannie Mae announced late last week that it is implementing new underwriting standards for certain hybrid adjustable-rate mortgages, products that have consistently performed worse than fixed-rate mortgages. The government-sponsored enterprise also restricted access to another unconventional loan, the interest-only mortgage.Fannie said that for ARMs with initial... Read More

Ginnie Servicing Business Growing In 2010; Wells Fargo Leads Sector

The overall mortgage servicing business may be shrinking slightly as home values remain soft and cash-out refinancing has dried up, but the Ginnie Mae servicing market is booming. A total of $932.7 billion of Ginnie servicing was outstanding as of the end of March, an increase of 6.0 percent in just one quarter. Compared to a year ago... [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