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Who We Are: CT Company History of McCue Mortgage residential lending Retail/Wholesale split PowerPoint PPT Presentation


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Who We Are: CT Company History of McCue Mortgage residential lending Retail/Wholesale split Blend of mortgage products. Today’s Residential Mortgage Market Subprime Mortgage Credit Crisis Bail Outs. CT Subprime Mortgages – from Subprime Task Force’s November 2007 data

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Who We Are: CT Company History of McCue Mortgage residential lending Retail/Wholesale split

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Who we are ct company history of mccue mortgage residential lending retail wholesale split

Who We Are:

  • CT Company

  • History of McCue Mortgage residential lending

  • Retail/Wholesale split

  • Blend of mortgage products


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Today’s Residential Mortgage Market

  • Subprime Mortgage

  • Credit Crisis

  • Bail Outs


Who we are ct company history of mccue mortgage residential lending retail wholesale split

CT Subprime Mortgages

–from Subprime Task Force’s November 2007 data

  • 71,000 - $15 billion outstanding balances

  • 13% of total active mortgages in CT


Ct subprime originations

CT Subprime Originations


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Timing of Interest Rate Resets

2006

2007

2008

2009


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Impact on our business

  • Investors

  • Products & Risk Based Pricing

  • Competition

  • Borrowers


Who we are ct company history of mccue mortgage residential lending retail wholesale split

  • Conventional Loan Price Adjustments

  • As of 9/25/07

  • Driven by

  • secondary financing

  • amortization

  • combination of property type & occupancy & LTV


Who we are ct company history of mccue mortgage residential lending retail wholesale split

  • Conventional Loan

  • Price Adjustments

  • As of 9/25/08

  • Driven by

  • FICO score

  • LTV

  • transaction type


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Borrowers and Consumers Troubles

  • General credit

  • Ratios

  • Delinquency

  • Appraisal Gaps

    What can homeowners do now???


Who we are ct company history of mccue mortgage residential lending retail wholesale split

FHA’s Solution – FHA Secure

  • Refinance program

  • Increase in Maximum Loan Amounts

  • Changes since 2007

  • Risk based MI

    Governor Rell’s Response

  • CT FAMLIES refinance program through CHFA


Who we are ct company history of mccue mortgage residential lending retail wholesale split

FHA’s Market Share

Source: Inside Mortgage Publications. Mortgage volume in billions of dollars.

Note: Volume in 2008 has been estimated from first two quarters.


Who we are ct company history of mccue mortgage residential lending retail wholesale split

FHA Business Composition

Source: SFDW


Who we are ct company history of mccue mortgage residential lending retail wholesale split

FHA Secure & CT FAMLIES

  • Eligibility for refinance & Underwriting

  • Counseling

    Our Involvement and Experience

  • Benchmark of affordability


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Where does McCue Mortgage go from here?

  • Opportunities for first time homebuyers

  • Products for today’s market


Who we are ct company history of mccue mortgage residential lending retail wholesale split

Important to Understand

  • Budgeting & planning

  • How credit works

  • Secured debt

  • Availability of counseling

    Still a great time to buyer a home!


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