The MSR portfolio that MIAC is selling has an average FICO score of 672…

The Sterling loans tend to have tighter underwriting characteristics than Caliber’s contributions.

Meanwhile, over at the Pasadena, CA-based CALCAP, its use of third-party brokers to make loans is just getting underway.

Investors Unite: “We’re encouraged to see that MBA has changed its position on both of these issues and we also note that in their [sic] paper, MBA acknowledges the role of the Federal Housing Finance Agency … in stabilizing the companies during the conservatorship.”

Arch Capital will issue its quarterly earnings this Wednesday, April 26. It will mark the first earnings release following the Arch Mortgage Insurance purchase of competitor United Guaranty…

With 2017 shaping up to be a so-so year for originations, the list of potential buyers of other companies is beginning to grow. Usually, firms that are in the hunt to purchase other shops tend to keep it quiet. Over the past few months, however, several companies have admitted that they’re open to pulling out the checkbook. Included in that camp, at least for right now, are Flagstar Bancorp, Freedom Mortgage, and Impac Mortgage Holdings. Others that are said to be open to deals ...

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

A significant drop in the VA refinance market in the first quarter is proof that Ginnie Mae’s anti-churning policy has been effective in curbing serial refinancing of VA loans, according to agency officials at the recent VA Lenders Conference in Kansas City, MO. A hefty 42.7 percent decline in VA refi volume during the first three months of 2017 reflects an apparently successful effort by Ginnie to stop the practice of refinancing VA loans within six months of closing. By comparison, securitization of VA purchase loans fell 17.3 percent from the fourth quarter. John Getchis, senior vice president at Ginnie, said...

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

Losses on rated non-agency MBS backed by re-performing loans have been minimal, according to DBRS. RPLs have been one of the dominant types of mortgages in post-crisis non-agency MBS. Issuance of MBS backed by RPLs increased significantly in 2015, according to DBRS. Some $13.4 billion of volume was issued that year, compared with a total of $5.9 billion of issuance between 2010 and 2014. The deals often don’t receive credit ratings, which can make them difficult to track. Some $15.3 billion of RPL MBS were issued...