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Inside Nonconforming Markets

October 12, 2007

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IO Sales to Freddie Mac Fall Drastically

Fannie Mae and Freddie Mac both made significant shifts in their involvement with interest-only mortgages in the third quarter of 2007, but in completely opposite directions. Together, the government-sponsored enterprises... [Includes two charts and one graph] Read More

Alt A Issuance Falling Fast

The problems in the subprime lending market continue to wreak havoc on other sectors as non-agency Alt A securitizations saw a major drop in the third quarter after seeing record numbers on the secondary market in recent years. Issuance of... [Includes one graph] Read More

DC Tests Alternative Credit Program

With Alt A lending slowed to a crawl, lenders and community groups are looking for ways to extend homeownership to underserved markets. This may spur new interest in alternative credit scoring, aimed at borrowers with insufficient credit history to qualify for... Read More

Despite Problems, High LTV Loans Still Available

As the fallout from the subprime meltdown continues to disrupt the mortgage market, many lenders continue to make Alt A loans with the same features and risk factors they used before the credit contraction, a new study of market conditions indicates... Read More

Lenders Shunning Nontrad Products Face Losses

Alt A and subprime lenders will likely see more problems in the second half of 2007 as companies are forced to swallow losses on their nonconforming operations and focus on lower-margin business. Countrywide Financial has been on the ropes for months, and... Read More

IndyMac Launches Fixed-Rate HECM

IndyMac’s reverse mortgage lending subsidiary, Financial Freedom, last week launched a new reverse mortgage with a fixed rate, aiming to address concerns about the product’s stability and predictability that have deterred investors in the past. Financial Freedom... Read More

American Home’s Servicing Sale at a Standstill

The sale of American Home Mortgage’s servicing rights has hit a stalemate as the bankrupt lender faces several objections from its investors over the sale, American Home announced this week. Several investment banks are trying to prevent the sale of American Home’s... 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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