Inside Nonconforming Markets

Alt A Originations, Share Continue to Fall in 2008

In the first quarter of 2008, the Alt A share of total mortgage origination hit a low it has not seen since the sector exploded four years ago. The lack of production is tied to investor aversion to Alt A mortgages, which could... [Includes two charts and two graphs] Read More

Lenders Urged to Tighten Home-Equity Lending

National banks’ losses on home-equity loans in the first quarter of 2008 were eight times higher than their low historical average. Citing expectations of continuing decline in home prices, the Office of the Comptroller of the Currency has called... Read More

Conforming Jumbo Limit Could be Permanent

Conforming jumbo loan limits could be made permanent even though allowing such lending temporarily this year has not had the immediate results lawmakers hoped for. Lenders suggest that permanent higher limits will increase acceptance of the loans... Read More

Impac Close to Acquiring Small Servicer

The fate of a former Alt A lender could rest on its acquisition of a small servicer. After Impac Mortgage Holdings last week reported a whopping $2.0 billion loss for 2007, Joseph Tomkinson, the company’s chairman and CEO, said Impac was considering making... Read More

Second Liens, HPD Causing Alt A Problems

Alt A mortgages are headed for record defaults due to lenders’ willingness in recent years to allow borrowers to take simultaneous second liens. Piggyback mortgages, often used to avoid downpayments, are performing poorly as home prices continue... Read More

HUD Allows Compensation for HECM Brokers

Untangling previously complex federal regulations, the Department of Housing and Urban Development recently clarified compensation requirements under its home-equity conversion mortgage program. In Mortgagee Letter 2008-14, HUD said the... Read More

May 30, 2008

View Archived Issues

Alt A Originations, Share Continue to Fall in 2008

Lenders Urged to Tighten Home-Equity Lending

Conforming Jumbo Limit Could be Permanent

Impac Close to Acquiring Small Servicer

Second Liens, HPD Causing Alt A Problems

HUD Allows Compensation for HECM Brokers

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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?