Starwood Property Trust plans to be a regular issuer of mortgage-backed securities backed by non-qualified mortgages after successfully closing its first deal this week. Loans in the $374.1 million issuance were sourced from Impac Mortgage Holdings, which is working to increase non-QM production, delivering the loans to Starwood and potentially other outlets. Jeffrey DiModica, president of Starwood Property Trust, said the real estate investment trust expects to be a “frequent issuer” ...

Ellington Financial could issue its second mortgage-backed security backed by non-qualified mortgages before yearend, according to officials at the nonbank. “We are nearing critical mass of product for a follow-on securitization and plan for that later this year, subject, of course, to market conditions,” said Laurence Penn, Ellington’s CEO and president. At the end of the June, Ellington held $150.2 million of non-QMs. Mark Tecotzky, co-CIO at Ellington, noted that the firm is increasing ...

Two lenders recently launched proprietary reverse-mortgage products. Quicken Loans’ One Reverse Mortgage unit is offering Home Equity Loan Optimizer. “With HELO, many high-value homes, condominiums, and solar-panel homes may qualify for a reverse mortgage,” One Reverse said. “Along with that, there is no mortgage insurance premium required and the amount clients may receive in proceeds is up to $4.0 million.” Longbridge Financial launched its Platinum ... [Includes two briefs]

The residential mortgage market took an unusual turn in the second quarter as retail production gained ground under conditions that generally favor third-party channels. [Includes four charts.]

The Internal Revenue Service published a proposed rule this month to help determine who’s eligible for a new 20.0 percent tax deduction for pass-through entities. Lenders that retain their production in portfolio look to be eligible for the deduction but there’s uncertainty about businesses that originate and sell loans.

Despite stiff headwinds, first-time homebuyers still play a key role in the mortgage market and that’s not expected to change anytime soon, according to industry insiders.

Quicken Loans this month lost one of its biggest broker-partners, C2 Financial Corp., laying the blame on BRAWL, United Wholesale Mortgage and UWM’s CEO Mat Ishbia.

Celebrity Financial, launched earlier this year by industry veteran David Robnett, has closed on its purchase of Midwest Equity Mortgage – its second mortgage deal of the year – but it is far from done as a buyer.

With refinance business drying up, more lenders and loan aggregators are entering the expanded-credit market, launching non-qualified mortgage programs and other products.

The Senate Committee on Banking, Housing, and Urban Affairs Thursday morning approved the nomination of Kathy Kraninger to become chief of the Consumer Financial Protection Bureau.