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Inside Mortgage Finance

March 3, 2011

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Conventional Market Gained Steam in 2010; Slight Wisps of Recovery in Jumbo Market

The government’s heavy footprint in the residential mortgage market shifted slightly in 2010 as the FHA and VA programs gave back some market share and the government-sponsored enterprises captured a smaller slice of the conventional conforming business. In 2009, Fannie Mae and Freddie Mac issuance of single-family mortgage securities backed by newly-originated loans accounted...[Includes three data charts] Read More

Executive: Lenders Must Curb Common Underwriting Deficiencies to Dodge Freddie Mac Repurchase Demands

Lenders that want fewer repurchase requests from Freddie Mac should zero in on the loan origination process to curb the most common underwriting deficiencies that the government-sponsored enterprise spots during its quality control reviews, according to a GSE official who participated... Read More

Relying Too Much on Private Sector in Mortgage Finance Could Put Taxpayers at Risk, Geithner Says

Treasury Secretary Tim Geithner avoided picking a favorite from the various alternatives for a post-Fannie/Freddie mortgage market during a House hearing this week, but he did note that a system with an inadequate degree of government presence would be dangerous to the market, and the FHA won’t be able to support... Read More

Major Mortgage Servicers Warn Investors to Expect Big Payout Penalty Imposed By Federal Regulators

As federal regulators continue to hash out what is expected to be a pricey penalty imposed upon some of the industry’s biggest mortgage servicers, lenders are circling the wagons and warning their investors to brace for some bad news. The regulators remain... Read More

Bank Mortgage Banking Earnings Slow In 4th Quarter Despite Surging Volume

Banks posted their second straight year of robust earnings on their mortgage-banking activities during 2010, although profit margins appeared to be squeezing tighter. Call report data analyzed by Inside Mortgage Trends, an affiliated newsletter, show...[Includes one data chart] Read More

Fannie, Freddie Slow Turnaround Continues As Higher Quality Business Comes A-Calling

The industry-wide flight to origination quality that emerged after the mortgage market flamed out continues to lift Fannie Mae and Freddie Mac closer to sea level, but neither firm can hope to reach dry land while anchored by the government’s preferred stock dividend obligation. Fannie actually reported... Read More

HUD Chief Defends Mortgage Relief Efforts, Says Agency Will Do Its Part to Pare Deficit

HUD Secretary Shaun Donovan said the Obama administration’s efforts to help distressed homeowners are having a positive impact on immediate problems. During a hearing in the House Financial Services Committee this week, the Department of Housing and Urban Development chief said Congress should consider... Read More

Critics Accuse Treasury of Largely Ignoring Recommendations to Improve, Save HAMP

The Obama administration has done very little since the last congressional hearing to improve the Home Affordable Modification Program to convince critics that the program is worth the billions of taxpayer dollars set aside to fund it, according to government auditors. In testimony before... Read More

Editorial Correction:

We have updated the Large Mortgage Servicer Delinquency Rate table published in the Feb. 4, 2011 issue of Inside Mortgage Finance to correct some errors and add data from more servicers. Read More

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