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Inside Nonconforming Markets

November 3, 2006

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Option ARM Borrowers Continue to Use Neg Am

Warnings about the potential pitfalls associated with option ARMs apparently have done little to stem the use of negative amortization by borrowers. In fact, a review of recent earnings reports suggests that consumers are availing themselves of... Read More

Countrywide Braces for NonTrad Market Shift

New regulatory guidance on alternative mortgage products could lead to a shift in the marketplace and put consumers at risk, the head of one of the industry’s largest players has warned. “We have a terribly uneven playing field,” said Countrywide Chairman and... Read More

Freddie Mac Sees Big Boost in IO Loan Purchases

When it comes to the purchase of loans with interest-only features, Freddie Mac appears to have adopted a more aggressive approach to the market than rival Fannie Mae.According to a new Inside Alternative Mortgages analysis, Freddie Mac grew its IO securitization volume by more than... [Includes 2 charts] Read More

GSE IO Guidelines Out of Step With Reg. Guidance

Fannie Mae and Freddie Mac are apparently ready to shrug off new regulatory guidance on nontraditional mortgages: neither of the behemoth GSEs is planning to make changes to underwriting standards that currently are out of step with what bank and thrift regulators believe to be safe and sound practices for the origination of... Read More

Fixed-Rate HELOC Options Taking Hold in Market

The home-equity loan market is undergoing a shift, with large lenders emphasizing fixed-rate products and loans on investor properties while scaling back their production of loans with IO features. That was one of the key findings that emerged... Read More

Alt A Borrowers Resemble Subprime, Poll Finds

Alt A borrowers are a cut above subprime in terms of their income and credit characteristics, right? A new poll suggests the distinction between the two sectors may not be as clear as many believe, at least when it comes to loans generated by... Read More

Reaction Mixed to Warnings of ARM Resets

Lenders are aware of the extraordinary volume of adjustable-rate mortgages that are set for interest rate resets next year, but what that means for the mortgage market is still to be seen. Some expect increased defaults, delinquencies and foreclosures, but others... Read More

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