Impac Mortgage, one of the better known non-QM lenders, funded $75.0 million in such loans during the first quarter of 2016, up from $50.8 million in the previous quarter.
Investor Unite’s Tim Pagliara said that a stay would prejudice him under Virginia law, where the case is to be “expedited” and could be resolved on the merits…
A surge of new refinance business and a seasonal uptick in purchase-mortgage activity helped lift agency issuance of single-family MBS in April, according to a new Inside MBS & ABS analysis and ranking. Fannie Mae, Freddie Mac and Ginnie Mae produced $108.95 billion of new single-family MBS last month, the strongest monthly output since September 2015. Gross new issuance was up 9.8 percent from March, but on a year-to-date basis, production was still down 3.9 percent from the volume generated in the first four months of 2015. Ginnie saw...[Includes two data tables]
Industry participants are gearing up for non-agency MBS backed by non-qualified mortgages, but don’t expect a flood of volume anytime soon. Four non-agency MBS backed by new nonprime mortgages were issued in 2015, the largest of which was a $150.35 million deal from Angel Oak Capital Advisors. None of the deals were subject to risk-retention requirements that took effect at the end of 2015 and none were rated. A rating on a non-QM MBS could improve...
Angel Oak Capital Advisors is working on what should turn out to be its second nonprime mortgage securitization of the past six months, a deal that should be similar in size to its first offering of roughly $150 million, Inside MBS & ABS has learned. A source close to the company, who spoke under the condition his name not be used, could not commit to an exact issuance date except to say the security could be issued “soon.” To date, investor interest in the small amount of nonprime/non-qualified mortgage deals that have come to market has been...
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