Angel Oak competitor Citadel Servicing Corp., Irvine, CA, is planning to come to market with its first deal, a rated security that could top $160 million…
We've an opinion or two from mortgage lobbyists that Rep. Hensarling might be open to some type of government guaranty on MBS, but how he might agree to such an animal has yet to be revealed…
Originations of interest-only mortgages increased in 2016 compared with the previous year, based on volume from 12 lenders tracked by Inside Nonconforming Markets. The group originated $40.52 billion in IOs during the year, a 36.5 percent increase from the previous year. All but one of the lenders increased their IO production compared with 2015, with many posting gains higher than 50.0 percent. IOs can’t receive qualified-mortgage status ... [Includes one data chart]
Although agency mortgage lenders are having a challenging start this year, nonprime lenders are seeing volumes increase more than anticipated and are shaping up plans to bring new MBS to market. Angel Oak Mortgage Solutions, Atlanta, and its retail affiliate Angel Oak Home Loans ended the first quarter with just over $220.9 million of mostly non-agency mortgage production. An official at the company described the first quarter as “shaping up well.” The official told...