Celebrity Home Loans hired industry veteran Rudy Orman to manage correspondent non-QM loan purchases. The move comes amid turbulence in the market.

Fannie Mae and Freddie Mac plan to resume bulk acquisitions of seasoned mortgages from lenders. However, the purchases will be focused on smaller lenders.

Not too long ago, the asking price for scratch-and-dent mortgages was considered silly but buyers paid because the returns were strong. And today? It’s a whole different ballgame.

The Federal Reserve’s runoff of Treasuries and agency MBS remains far below expectations.

CLOs managers are responding to tough market conditions by making changes to their products, for example proposing to remove buckets for discounted assets.

Freddie recorded the biggest decline in the agency market, while Ginnie dodged the worst of the downturn. Agency multifamily MBS issuance was up, however, as was non-mortgage ABS production. (Includes three data charts.)

Two prominent lenders involved in the expanded-credit market shuttered and planned MBS from major issuers are being downsized or pulled altogether.

It’s not every day that bond-investing giant PIMCO pulls out of a market, but for now the whole-loan buyer is avoiding non-QMs. Also, part of the story: the closures of FGMC, Maverick and Sprout Mortgage.

Moody’s and other rating services are optimistic about the near future of the CMBS market, with continuing drops in delinquencies expected. Some sectors are performing worse than others.

Investors tendered debt notes worth slightly more than 82% of the original principal amount.