The Democratic proposal calls for private mortgage capital to backstop the first 5 percent of conventional-mortgage securitizations with the remaining 95 percent of risk shared “on a pari passu basis.”

According to a copy of the offering circular provided to IMFnews, Quicken accounts for 32.86 percent of the loans.

One positive trend for the mortgage insurance sector is that the growth in business during the second quarter was squarely in purchase mortgages and traditional MI loan-to-value ranges.

Don't believe the naysayers. Second quarter originations turned out to be better than expected.

An early analysis of second quarter loan level data suggests that residential originations were a little better in the April to June time-frame than some might believe. See this website on Thursday for more information…

Non-QM origination volume could rise above $400 billion a year if the GSEs are no longer in conservatorship. Of course, Fannie and Freddie are nowhere close to doing that...

Impac anticipates that 90 percent of its non-QM volume will come through the correspondent and broker channels.

Marc Savitt, president of the National Association of Independent Housing Professionals, said he is seeing more lenders entering the wholesale channel. Most are nonbanks.

Will loan production in the second half surprise the naysayers? Will non-QM lending take off? Stay tuned...

All of the loans that were not reviewed were originated by First Republic Bank. The rating agencies indicated they are comfortable with the lender’s underwriting process.