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Inside Nonconforming Markets

July 20, 2007

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GSEs to Implement NTM Guidance

At the behest of their primary regulator, the Office of Federal Housing Enterprise Oversight, Fannie Mae and Freddie Mac are updating their underwriting criteria to mirror the Nontraditional Mortgage guidance developed by federal regulators at the end of... Read More

IO Growth Continues for Fannie and Freddie

Despite growing investor and regulator wariness of alternative products and new underwriting requirements for Fannie Mae and Freddie Mac, the popularity of interest-only loans continues to soar to new heights at the... [Includes two charts and one graph] Read More

HECM Securitization Program Moves Forward

Efforts to expand the securitization of FHA insured reverse mortgages appear to be closer to their goal than ever, as Ginnie Mae released program requirements and reporting specifications for issuers of reverse mortgage-backed securities late last week... Read More

Ratings Services Reviewing Alt A MBS

Analyst and investor concern about the health of the Alt A market is growing, as Moody’s Investment Services put 66 tranches from 33 securities backed by Alt A mortgages on review for possible downgrades this week. The reviews follow a rapid increase in... Read More

Investors Leave Colorado After Nontrad Regulation

Colorado state regulators are experiencing some blowback from investors and lenders following the state’s implementation of nontraditional mortgage guidance, the Colorado Division of Real Estate recently announced. Industry leaders are complaining that... Read More

Alliance Bancorp Files for Bankruptcy

Another Alt A lender joined the growing number of mortgage companies brought down by a slow secondary market and increasing early payment defaults as Alliance Bancorp announced late last week that it has declared bankruptcy. “Unfortunately, the... Read More

IndyMac Reaching Out to Hispanic Borrowers

IndyMac Bank has a new division that aims to garner a large share of Hispanics’ mortgage business by approaching the niche marketing task from the wholesale side. “Everyone else out there, including the big guys, are doing it from the retail side, but if you... Read More

M&T Rebounds After Alt A Losses in First Quarter

After heavy losses in the first quarter of this year related to Alt A secondary market sales, M&T Bank appears to have bounced back, reducing its exposure to the risky market. M&T’s $745 million in revenue beat analysts’ predictions of $717 million... Read More