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Inside Mortgage Finance

April 28, 2011

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Mortgage Originations Tumble Sharply In Early 2011, No Sign of Rebound Ahead

Mortgage origination activity dropped sharply in early 2011 and momentum is pointing toward further declines as the housing market limps into a new buying season. Mortgage lenders generated an estimated $325.0 billion in single-family originations during the first three months of the year, a decline of... [Includes two data charts] Read More

Lenders May Have Multiple ‘Qualified Mortgage’ Definitions to Juggle if Rules Proceed as Proposed

One of the emerging compliance priorities for mortgage lenders will be to synchronize as much as possible their adoption of separate rules for “qualified mortgages” and “qualified residential mortgages” developed by federal regulators following the Dodd-Frank Wall Street Reform and Consumer Protection Act. Adding to the challenge is... Read More

Short Sale Share of Home Purchase Transactions Climbs to Record-High in March, New Data Reveal

Short sales, the bane of the home-purchase market for the past several years, have suddenly emerged as the fastest growing sector of the housing market in early 2011. According to new numbers released this week by the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey, short sales accounted for... Read More

OCC and OTS Consent Decrees for Servicers Exaggerate Actual Interagency Review Findings, Law Expert Says

The interagency review of servicers’ foreclosure policies and practices found that although some process flaws were discovered, the foreclosure proceedings weren’t improper and didn’t cause undue borrower injury, despite the consent decrees’ more sinister portrayal of the findings, according to... Read More

Foreclosure Situation Shows Little Sign of Improvement, Solutions Need Hard Work

Industry groups continue to emphasize that servicer accountability and legitimate help for borrowers are key to addressing loan modification concerns that continue to plague the market. The crux of concern with modification programs is conflicting fiduciary duties, including financial incentives for banks not to... Read More

Ginnie Mae MBS Issuance Eases In 2011, Wells Fargo Leads Pack

New issuance of Ginnie Mae single-family mortgage securities declined 17.9 percent from the fourth quarter of 2010 to the first quarter of 2011, according to the Inside Mortgage Finance MBS Database. It was the slowest three-month period in Ginnie securitization since the fourth quarter of 2008. Wells Fargo ranked as... [Includes one data chart] Read More

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