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Inside Mortgage Finance

November 4, 2010

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Mortgage Industry Begins Shedding More Light On Repurchase Activity, Trends Appear Mixed

Under pressure from federal regulators and their own investors, mortgage companies have significantly ramped up their disclosures of mortgage repurchases and indemnifications in recent weeks. The Securities and Exchange Commission has advised... Read More

Freddie Repurchase Demands, Recoverables Increase as GSE Begins to Punish Laggards

Freddie Mac seller buyback demands continued to rise in the third quarter as the government-sponsored enterprise became more assertive in holding its seller/servicers’ feet to the fire. “Some of our seller/servicers failed to fully perform their repurchase obligations due to... Read More

Warren Advocates Use of New Technology in Harnessing Consumer Power to Boost BCFP’s Oversight, Enforcement

Elizabeth Warren, appointed by the Obama administration to help start the Bureau of Consumer Financial Protection, underscored the need for new data-driven technology to avoid “capture” by the industry it was created to regulate and a repeat of events that led to the financial crash that devastated many American families. In remarks last week... Read More

Cash Becomes Number One Financing Method In Home Purchase Market, New Survey Finds

A combination of more distressed properties on the market and an ongoing slide in first-time homebuyer activity created a very unusual home purchase market in September where cash was the number one source of new financing. According to the latest Campbell/Inside Mortgage Finance Monthly Survey of Real Estate Market Conditions...[Includes one data chart] Read More

Fannie, Freddie Turn in Uneven Housing Goal Performance Even as Loan Modifications Helped

Fannie Mae and Freddie Mac turned in an uneven performance against their 2009 housing goals, even as their loan modification efforts helped lift their overall results, according to the Federal Housing Finance Agency’s 2010 annual housing report to Congress, issued late last week. The report found...[Includes one data chart] Read More

Foreclosure Rates May Be Aggravated By Modification Program Shortcomings

Recent reports released by Hope Now and the Special Inspector General for the Troubled Asset Relief Program suggest that the Home Affordability Modification Program is doing little to help ease the foreclosure crisis: September modifications are down and foreclosures are up. Hope Now data released... Read More

Top Servicers Report Significant Declines In Portfolios During Third Quarter 2010

The mortgage servicing business experienced its tenth consecutive quarterly decline in outstanding loans during the third quarter despite a hefty surge in new loan production. All five of the top servicers in the market reported further erosion in their portfolios during the most recent three-month period. Although the group continued...[Includes one data chart] Read More

GOP Takeover Expected to Bring Less Onerous Regulation, More Scrutiny, More Gridlock

The widely anticipated Republican takeover of the House of Representatives, the political demise of numerous “blue dog” Democrats and the ascension of many tea party conservatives stemming from this week’s elections could limit the severity of numerous forthcoming regulations affecting... Read More

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