A congressionally mandated update to the Internal Revenue Service’s Income Verification Express System is causing some alarm among mortgage trade representatives. The update was meant to save time by moving the system from a fax-based process to a real-time, digital one.

For several quarters now, commercial banks have been hanging onto underwater non-QMs originated by their warehouse clients because a sale or securitization would blow a hole in the originator’s financial hull. But one of these days, the situation will come to a head, if it hasn’t already.

Spreads on auto ABS issuance are tightening and issuers are upsizing deals amid strong demand.

The GSEs’ social disclosures should be as granular and specific as those reported for credit-risk transfer deals, according to investors.

Governance and social risks are the main ESG factors that affect credit ratings of MBS and ABS, while environmental relevance remains low, according to Fitch Ratings.

Wells Fargo is no longer in love with the mortgage business. We all know that, but is the bank contemplating large-scale sales of its massive MSR portfolio? Not likely.

The Consumer Financial Protection Bureau wants nonbanks to submit information about terms and conditions they use in form contracts that might restrict consumer rights and protections.

Earnings season has arrived for the largest publicly traded depositories. Included in the results: home lending, where a brutal correction continues and depositories are rethinking their roles.

In a reissued bulletin, the mortgage giant said it will allow some duty-to-serve cash-out refinances to receive 0% credit fee caps because of the confusion caused by an earlier notice.

Plaintiffs hope that a pattern of illegal contract interference and the theft of trade secrets will justify RICO charges — and treble damages — against the Ohio lender.