The pending issuance will largely be backed by purchase mortgages...

A total of $13.38 billion of non-agency MBS was issued during the first quarter of 2017, a sharp 67.1 percent jump from the final quarter of last year, a new Inside MBS & ABS analysis and ranking reveals. Although most of the major segments posted solid increases, the scratch-and-dent market was the star of the show. The $8.09 billion of these deals issued in the first three months of the new year represented 60.5 percent of total production and it more than doubled the fourth-quarter total. The top two issuers of non-agency MBS – Chimera Investment and Cerberus Capital – earned...[Includes three data tables]

Ocwen added: “The substantive allegations in today’s suit are inaccurate and unfounded.”

Although most of the major non-agency segments posted solid increases, the scratch-and-dent market was the star of the show.

Two of the most active lenders in the “fix & flip” market – Finance of America Commercial and CALCAP – are coming off record years and are expanding their efforts by launching brokerage initiatives that could increase their volumes even more. “Why now?” asked Mark Filler, CEO of Finance of America Commercial. “We’re at the point where we have better pricing, better products and the market is strong.” In 2016, FOAC – known as Jordan Capital when it was acquired by nonbank mortgage giant Finance of America a few months ago – originated...

We understand that some surprising names are beginning to show up at auctions for nonprime, non-agency whole loans...

The share of renters who expect to purchase a home is declining, according to a survey conducted for Freddie Mac. Even though many renters reported optimism about their financial situations, saving for a downpayment and other factors present hurdles to financing a home purchase. Some 41 percent of renters surveyed said they expect to purchase a home, down from 45 percent in September. Freddie also found that the number of renters who say they are working toward homeownership fell from 21 percent in September to 15 percent in March. Most renters said...

Industry experts are concerned that significantly raising the standard federal income-tax deduction could make the mortgage-interest deduction less valuable and hurt the housing market. The Republican “blueprint” for a massive overhaul of federal income taxes proposes boosting the standard deduction from $12,600 to $24,000 for joint filers. This could mean fewer taxpayers would itemize their deductions and claim the MID. The Community Home Lenders Association opposes...

Most of the discussion about lender relief from the compliance burdens under the Dodd-Frank Act has revolved around the Financial CHOICE Act sponsored by House Financial Services Committee Chairman Jeb Hensarling, R-TX. But the wheels are starting to move in the Senate Banking, Housing and Urban Affairs Committee, where Chairman Mike Crapo, R-ID, has begun receiving input from industry trade groups about the kind of changes they would like to see. The lion’s share of the industry’s concerns have to do with the mortgage rules promulgated by the Consumer Financial Protection Bureau, whether it’s the integrated disclosure rule, the ability-to-repay rule or the penchant the bureau seems to have for bypassing the public rulemaking process through the use of consent orders. The Mortgage Bankers Association urged...

Most of the banks’ non-QMs received that designation due to high debt-to-income ratios.