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Inside Nonconforming Markets

November 25, 2005

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Alt A Originations Soar Through the Third Quarter

The alternative A mortgage market grew at a record pace during the first nine months of the year, a new Inside Alternative Mortgages analysis reveals. Still, the average lender appears to have plenty of room for growth in the sector. Through the end of September, new production of Alt A loans – or loans to borrowers with good credit profiles who, for reasons such as documentation, fall outside of traditional prime... Read More

GreenPoint Sees Gain Despite Stiff Competition

One of the Alt A market’s largest players, GreenPoint Mortgage, is banking on expansion and process changes to help boost profits in a market where competition has heated up significantly in recent months. According to data compiled by affiliated newsletter Inside Mortgage Finance, GreenPoint originated $32.9 billion in originations through the first nine months of 2005, up 11.9 percent year-to-date from 2004. Alt A loans accounted for 42 percent of... Read More

Most Thrifts Manage Alt Loans Well, OTS Says

The average thrift appears to be doing a pretty good job of managing the risks associated with its alternative mortgage products, the head of Office of the Thrift Supervision suggested in a recent speech. Still, the regulator has repeated warnings that lenders should move cautiously in the nontraditional loan sector, particularly if they have never dealt with such assets before. “It is our experience that thrifts specializing in mortgage lending... Read More

Impac Offers to Teach Brokers About Alt A Loans

Do brokers need a bit more help with the ins and outs of originating alternative mortgage products? Some do. And Impac Mortgage Holdings says it is happy to help with a series of new seminars. The California-based mortgage bank recently launched a partnership with Loan Officer School, a firm that offers loan officer training, job placement, and mortgage education services. Through the partnership, Impac will offer seminars to brokers with... Read More

Cross-Selling Prevails as a Way to HEL Business

What was the most popular way for lenders to reach potential home-equity borrowers last year? The results of a survey released recently by the Consumer Bankers Association suggest that the tried and true methods were still the way to go – at least for borrowers seeking open-end credit. The CBA study polled 39 banks, thrifts, and credit unions, including such heavyweights as Bank of America, Chase, and Citibank, on their home-equity... Read More

Brokers to Alternative Lenders: Be Distinctive

For wholesale lenders looking to grab more alternative A business from mortgage brokers, distinctiveness pays. That was one of the major conclusions to emerge from a new survey, sponsored by Inside Mortgage Finance Publications and conducted by the Washington, DC-firm of Campbell Communications. Based on an analysis of 3,200 responses, the poll results provide insight into the decision-making process of brokers, highlighting the factors that lead them to choose one... Read More

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

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