Inside Nonconforming Markets

HOEPA Revision Could Cover Entire Alt A Market

Since it proposed overhauling regulation of the subprime market in December, the Federal Reserve has acknowledged that some Alt A loans will be subject to the new rules. However, lender and mortgage investor trade associations recently warned... Read More

IO Sales to the GSEs Down but Not Out in 2008

Lenders sent fewer interest-only mortgages to Fannie Mae and Freddie Mac in the first quarter of 2008 compared with previous recent quarters, though production is still fairly strong. Fannie and Freddie are on pace to purchase... [Includes two charts and one graph] Read More

HUD Slightly Loosens FHASecure Guidelines

The Department of Housing and Urban Development last week unveiled much-anticipated changes to the FHASecure program, slightly easing the requirements for delinquent borrowers. Under the expanded program guidelines, borrowers with... Read More

GSEs Ramp up ‘Conforming Jumbo’ Programs

After increasing their share of the Alt A market in recent years, the government-sponsored enterprises were expected to control a large part of the jumbo market as well after receiving a temporary boost to their loan limits. Two weeks into the programs... Read More

Wachovia to Cut Some Option ARMs After Loss

The leader in option-adjustable rate mortgage lending took a massive hit from the products this week. Wachovia posted a $350 million loss for the first quarter of 2008, in large part due to the bank’s option ARMs. Wachovia said it will tighten its underwriting on... Read More

Option ARM Cases Hinge on Disclosures

With the success of a lawsuit against Chevy Chase Bank, more borrowers with option adjustable-rate mortgages are going after lenders in court. The claims hinge on disclosure requirements under the Truth in Lending Act and attorneys warn that the claims are... Read More

GSE Risk-Model Tightening Could Squeeze Alt A

The federal safety and soundness regulator of the government-sponsored enterprises is urging the GSEs to improve their credit risk modeling in a move that could cut their appetite for Alt A mortgages. In a report to Congress released this week, the Office... Read More

April 18, 2008

View Archived Issues

HOEPA Revision Could Cover Entire Alt A Market

IO Sales to the GSEs Down but Not Out in 2008

HUD Slightly Loosens FHASecure Guidelines

GSEs Ramp up ‘Conforming Jumbo’ Programs

Wachovia to Cut Some Option ARMs After Loss

Option ARM Cases Hinge on Disclosures

GSE Risk-Model Tightening Could Squeeze Alt A

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