Non-QM impairments rise in February; new automated underwriting system for jumbos; Flourish Lending looks to help independent advisors compete with banks.

S&P was the top ABS rating service in the fourth quarter and finished narrowly behind Fitch for all of 2025. Kroll held the top spot in MBS ratings for the year despite a strong challenge from Fitch. (Includes two data tables.)

Market participants say the surge in GSE purchases is part of the Trump administration’s effort to reduce mortgage rates and spreads.

One of the GSEs has quietly issued an MBS comprised of loans underwritten using VantageScore 4.0.

International investors are driving demand for Ginnie Mae custom mortgage-backed securities, a trend Ginnie says it’s watching.

Ratings from a single firm are increasingly common for single-asset/single-borrower commercial MBS, a sign of potential rating shopping.

The company recently closed its first rated securitization of the year backed by home equity investments.

While institutional investors and insurance companies have been increasing their allocations to whole loans, the infrastructure supporting those allocations hasn’t kept pace, the software company said.

State regulators are still in the early stages of considering changes to how the largest nonbank mortgage companies are supervised.

Stakeholders believe that while the new rules will reduce insurance costs, they will raise other costs, including for condo dwellers who don’t plan to buy, sell or refinance.