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Inside Nonconforming Markets

February 22, 2008

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Alt A Originations Tumble at End of 2007

Alt A originations fell a whopping 50 percent in the fourth quarter of 2007, after a severely deflated third quarter, as several lenders abandoned the sector. Only an estimated $27.0 billion in Alt A mortgages were originated in... [Includes two charts and two graphs] Read More

HUD Considering FHASecure Loosening

The Department of Housing and Urban Development is considering loosening underwriting guidelines for its subprime rescue program, which has benefited few troubled borrowers thus far and netted considerable criticism. After repeated calls by industry... Read More

‘Super Duper’ Alt A Classes Could Boost MBS

Analysts are touting a new breed of Alt A mortgage-backed securities that could boost issuance and originations for the sector. The new MBS tranches, known as “super duper” seniors, offer investors enormous protection from losses and are priced lower than... Read More

IndyMac Looking to Bounce Back to Profitability

After the first annual loss in IndyMac’s 23-year history, the lender is projecting a return to profitability in 2008. IndyMac has a number of schemes to increase earnings even with a stalled secondary market, but some are skeptical of the lender’s plans... Read More

Performance of HELOCs Deteriorating Rapidly

Home-equity lines of credit were once noted for their high credit quality and strong performance, but that performance is deteriorating at an alarming rate. The downturn looks to be tied to loose underwriting and performance is not expected to get better... Read More

Future is Sunny for Two Option ARM Lenders

Two option adjustable-rate mortgage specialists are trading at a material discount to book values, dramatically increasing the lenders’ popularity among investors over the last few months. In comparing the lenders’ portfolios, analysts at Friedman, Billings... Read More

Equity-Tapping Products Eyed in Down Market

The first boomers turn 62 this year and become eligible for most reverse mortgages, a fact that hasn’t escaped the notice of lenders and investors. At the American Securitization Forum’s 2008 conference, held this month in Las Vegas, Jeffrey Taylor, a... Read More

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