Velocity Financial reduced its production of business purpose loans for the second consecutive quarter but remained profitable in the early months of 2023.

Republic First Bank exits mortgage business; LoanNex’s non-QM marketplace comes to LendingPad; Former Athas Capital CEO to launch non-QM shop; new non-agency MBS; Maxex debuts program for alternative-doc loans.

In a recent trip to Asia, Ginnie officials assured investors that the structure of Ginnie MBS will help to protect them from any potential issues tied to a possible U.S. debt default.

FHFA is looking to reduce capital requirements for the GSEs’ issuance of commingled securities. Some are happy with the agency’s plan, while others argue that no capital requirements are necessary.

The fact that nonbanks dominate the Ginnie Mae servicing business does not rest well with some in Washington, DC. Is it time to create a backstop for the Ginnie MBS market just in case?

After receiving intense criticism and a warning from the DOJ, S&P revised a proposal for assessing risk-based capital at insurance companies. One of the changes involves MBS and ABS.

With spreads on commercial MBS at wider levels than they were during the early days of the pandemic, portfolio managers at DoubleLine Capital are looking to increase investments in the sector. They caution against painting the commercial MBS market with a broad brush.

Porsche plans a return to the ABS market after seven years and Lobel Financial issued its first ever ABS.

GSEs endorse FHFA proposal on call options for CRT; office properties drive up CMBS delinquencies; Ginnie makes appointments.

The reading for the total delinquency rate at the end of March was the lowest in the 20-year history of Inside Mortgage Finance’s large servicer delinquency index. Delinquencies are projected to increase as unemployment rises. (Includes data chart.)