Cart

Inside Nonconforming Markets

January 11, 2008

View Archived Issues

IO Sales to GSEs Nearly Double in 2007

Sales of interest-only mortgages to Fannie Mae and Freddie Mac hit new highs in 2007, even with a drop in fourth quarter volume, as the government-sponsored enterprises picked up business unwanted by investors scared away by... [Includes two charts and one graph] Read More

Alt A Mortgages Possibly Eligible for Mod Plan

A loan modification framework designed for subprime adjustable-rate mortgages could apply to some Alt A mortgages and nontraditional loan products as well, according to the American Securitization Forum. The Treasury Department is also urging servicers and... Read More

Impac Ceases Lending as Alt Lenders Struggle

Impac Mortgage Holdings, once a prominent Alt A lender, is getting out of the loan origination business and has essentially shut down its mortgage operations. Other once-thriving Alt lenders have focused their attention on the origination of conforming mortgages... Read More

Alt A Performance Wanes, S&P Downgrades MBS

Early performance of the 2007 vintage of Alt A mortgage-backed securities suggests that it may turn in the worst losses ever seen in the sector, according to Standard and Poor’s, which also downgraded $7.06 billion worth of Alt A securities from earlier... Read More

Closed-end Second Liens Performing Poorly

Standard & Poor’s recently lowered its ratings on 793 classes of mortgage-backed securities backed by closed-end second-lien mortgages originated between 2004 and 2006, calling the 2006 vintage the worst in recent history. “Any expectation that defaults will... Read More

Pending FHA Reform Could Boost Alt Lending

Pending FHA reform legislation could provide a much-needed lift to the nontraditional mortgage market, although the scope of the overhaul is in flux as lawmakers prepare to reconcile very different bills passed by the House and Senate. Of the three major... Read More

FHA Proposes Tweaks to HECM Rules

he Department of Housing and Urban Development this week proposed an interim rule that would change the timeframe for settling on a maximum loan amount for Home Equity Conversion Mortgages, the Federal Housing Administration’s reverse mortgage program. It... 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