Redwood to Include More Non-QMs in its Latest Jumbo MBS October 30, 2014 Brandon Ivey Meanwhile, 84 lenders contributed to Redwood’s pending issuance, led by First Republic Bank with a 32.6 percent share.Read More
Short Takes: Redwood’s New Jumbo MBS Has Eight Non-QMs / MB Launches Sports Firm, Reveals Mortgage Earnings / Ellie Mae is Worth What? / FHFA Has a New Watchdog, Finally / Distressed RE Fund Raises a Bundle October 29, 2014 Paul Muolo, Brandon Ivey, and Charles Wisniowski Pacific Union Financial took in $100 million of profits. It’s not every day that a privately held nonbank tells the world what it’s earning…Read More
Moody’s to Non-QM Lenders: Find Rookie Borrowers With Potentially Lucrative Careers October 29, 2014 Brandon Ivey Young doctors just out of medical school can be good non-QM credit risks. Of course, there's all that student loan debt to consider...Read More
Fannie Mae Turning Into a Multifamily MBS Monster: Deals Doubled in 3Q October 29, 2014 Charles Wisniowski Former FHFA Acting Director Edward DeMarco wanted to shrink the multifamily programs of Fannie and Freddie, but that initiative has been placed on the back burner.Read More
Warehouse Lenders See an Increase in Outstandings; Credit for Non-QM Loans? October 28, 2014 Paul Muolo Another positive for the production market is a new willingness on the part of certain warehouse banks to finance the production of non-QM loans.Read More
Short Takes: Lower Rates Affecting M&A? / Gain-on-Sale Not So Bad / FHA May Penalize Lenders on Re-certifications / JPM and Non-QMs? / Nonbanks Love Ginnie, but is the Feeling Mutual? October 28, 2014 Paul Muolo and George Brooks Is the investment banking arm of JPMorgan Chase sniffing around the non-QM space? It sounds crazy, we know...Read More
Quick Turn-Time on Latest Jumbo MBS from Two Harbors October 28, 2014 Brandon Ivey DBRS said one of the strengths of the new jumbo deal is its traditional lifetime representations and warranties.Read More
MBS Investments by Credit Unions on the Wane October 27, 2014 With certain exceptions, credit unions invest almost exclusively in agency product, avoiding jumbo securities.Read More
Short Takes: Try Convincing Commercial Banks About Buyback Relief / Fannie Not So Bullish / Simpler Comp Plans for LOs? / Wells Pays HECM Fine / New Correspondent Chief for Nationstar October 27, 2014 Paul Muolo Industry consultant Joe Garrett notes that one of his clients (back in 2003) had 52 loan officers and “about 52 comp plans”… Read More
Plenty of Investors are Eyeing Non-Agency Space, Even PIMCO October 27, 2014 Paul Muolo For a bond investor such as PIMCO, the attraction should not come as a total surprise.Read More