Inside Nonconforming Markets

House Passes Predatory Lending Bill

The House last week passed sweeping anti-predatory lending legislation that could further discourage lending based on streamlined documentation and the use of some nontraditional mortgage products. However, prospects for passage in the Senate... Read More

Alt A Originations Plummet in Third Quarter

The slowed secondary market and tighter underwriting seem to have taken a toll on Alt A originations, which fell to their lowest level in two years in the third quarter. An analysis by Inside Alternative Mortgages found... [Includes one chart and two graphs] Read More

Home Equity Lending Less Profitable in 2007

The first half of the year has been uneven for home equity lending with lower profitability, tighter underwriting and larger loans, according to the 2007 Home Equity Lending Study just released by the Consumer Bankers Association. The average amount outstanding on... Read More

GSEs Increase Delivery Fees

The recent problems in the mortgage market have Freddie Mac and Fannie Mae increasing delivery fees on higher risk products, such as loans with relatively high loan-to-value ratios. Freddie Mac, “in response to continuing volatility and turmoil in the mortgage... Read More

Option ARM Portfolio Hurts Chevy Chase Outlook

Moody’s Investors Service last week changed its outlook on Chevy Chase Bank from stable to negative, citing an underperforming portfolio full of nontraditional mortgage-backed securities. The Bethesda, MD-based bank has faced increased pressures as the... Read More

Ginnie Issues First HECM-backed Security

Ginnie Mae issued its first Home Equity Conversion Mortgage-backed security last week, capping off more than a year of promotion of the nascent reverse mortgage secondary market. Many in the industry have touted a secondary market for HECMs as the necessary boost to turn... Read More

Outlook ‘Bleak at Best’ for Alt A Securities

If the housing market does not improve, overall losses on fixed-rate Alt A loans may be higher than expected, according to a recent report from Barclays Capital. While factors such as loan-to-value ratios and reduced income documentation contribute... Read More

S&P Downgrades $4.7 Billion in Alt A MBS

Standard & Poor’s last week downgraded several billion dollars worth of 2007 vintage securities backed by Alt A first liens, and hinted that further downgrades are ahead. Some 214 securities with Alt A collateral were downgraded after review by the ratings service... Read More

November 23, 2007

View Archived Issues

House Passes Predatory Lending Bill

Alt A Originations Plummet in Third Quarter

Home Equity Lending Less Profitable in 2007

GSEs Increase Delivery Fees

Option ARM Portfolio Hurts Chevy Chase Outlook

Ginnie Issues First HECM-backed Security

Outlook ‘Bleak at Best’ for Alt A Securities

S&P Downgrades $4.7 Billion in Alt A MBS

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