by Gerry Flood Director, Strategic Planning, Economic & Strategic Research
For many years, concentration in the U.S. primary mortgage market – as measured by top originators’ share of mortgage originations – grew at a largely uninterrupted pace. In the wake of the crisis, however, the level of concentration in the primary market has declined more than 20 percent.
One reason for this decline was the withdrawal of large lenders, with only 5 of the top 20 single-family mortgage originators in 2006 remaining active in the market today. ...Read more »
by Joy Cianci Senior Vice President of Making Home Affordable® and Foreclosure Prevention
For thousands of senior homeowners in Florida who may be facing foreclosure on their reverse mortgages, a new program is here to help. This month, the Florida Housing Finance Corporation (Florida Housing), announced the Elderly Mortgage Assistance Program (ELMORE) in cooperation with the Florida Department of Elder Affairs, the U.S. Department of the Treasury, and Fannie Mae.
Using $25 million in federal funding allotted to Florida from Treasury’s Hardest-Hit Fund, this first-of-its-kind program will assist senior homeowners with home equity conversion mortgages ...Read more »