Cart

Inside Nonconforming Markets

September 28, 2007

View Archived Issues

Impac Exits Alt A Lending Business

The frozen secondary market continues to cause problems for major Alt A lenders. Finding such loans difficult or impossible to sell, Impac has halted most originations, JP Morgan Chase is limiting Alt A production, and IndyMac faces massive downsizing and a downgrade... Read More

Alt A Servicers Increasing Loss Mitigation Efforts

Mortgage servicers are trying several loss mitigation techniques with varying degrees of success to help troubled borrowers stay in their homes and enable investors to minimize losses. But declining market conditions are likely to cause a shift from a loan... Read More

Alt A Issuance Sees Modest Change

Despite increased Alt A loan defaults and many lenders reporting difficulty selling such loans on the secondary market, issuance of some of the more risky products fell only slightly in the second quarter of 2007. Issuance of... [Includes one chart and one graph] Read More

Employer Assisted Mortgages on the Rise

With the mortgage market in disarray and credit growing scarce, employer mortgage assistance could become a more attractive option. “America’s labor force is being squeezed out of many high cost housing markets and the gap between affordably priced housing and... Read More

FHA Overhaul Could Increase HECM Lending

Federal Housing Administration reform legislation passed by the House of Representatives and a Senate committee would lift the current cap on FHA-insured reverse mortgages while capping origination fees, a policy change that could increase the number... Read More

Freddie Adjusts to Guidance

Freddie Mac has updated its “Single-Family Seller/Servicer Guide” to reflect underwriting changes mandated by the government-sponsored enterprise’s implementation of the interagency guidance on nontraditional mortgages. The GSE’s Sept. 4 Bulletin noted changes... Read More

Jumbo Hurt by Problems in Other Sectors

Rates are rising and funding is becoming scarcer for jumbo loans underwritten with prime characteristics, the result of fallout from rising default and foreclosure rates in other credit sectors. Severe pricing issues in the secondary market have started cutting... Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

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

View Results