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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lhn5 who wrote (35888)	7/20/2005 6:39:00 PM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 306849

RDN is a mortgage insurer, so they don't deal with a mortgage portfolio directly. CFC is an originator, and they keep a signfificant amount of their mortgages on the books. They also sell or securitize vast amounts of their originations, to the GSE's (FNM/FRE) and others. See their latest press release: biz.yahoo.com The second quarter of 2005 was characterized by falling long-term interest rates which created a robust mortgage origination environment. High funding volume during the quarter created significant economic value, not all of which will be reflected in second quarter earnings as a substantial portion of this production was retained in portfolio. In support of record quarterly Bank asset growth, $15.7 billion in loans produced were retained at the Bank rather than sold, compared to $8.5 billion that was retained by the Bank last quarter. This represents a sequential quarter increase of $7.2 billion. An additional $1.8 billion in home equity loans produced in the quarter were held in the mortgage banking company's inventory at quarter-end.