Fannie will take the first losses on the transaction, with additional losses borne by Bayview and investors in the deal. That’s a change from the typical CRT from Fannie where a third-party like Bayview isn’t involved.

In September, FINRA received approval from the SEC for a plan to require one-minute reporting of many MBS and ABS trades. Now the self-regulatory organization is scuttling implementation, citing concerns from industry participants.

New studies show that the expectation of future climate risk effects the current behavior of lenders and CRT can be used to estimate the true cost of hurricane risk.

Non-QM securitizations are growing by leaps and bounds — and that’s keeping subservicers and the attorneys that review the deals quite busy.

Ginnie Mae signed a memorandum of understanding with South Korea’s state-owned government-sponsored enterprise to remove barriers to investments in housing.

Bank of Hope anticipates three-year earn-back period following sale of low-yielding MBS; Figure touts strong demand for HELOC securitization; Wells transferring some non-agency MBS servicing to Shellpoint; Hooters whole-business securitization downgraded again.

Ginnie Mae eliminated the 10% concentration limit on buydown securitizations in custom single-family MBS.

A successful partnership between an investor and an originator comes down to reliability and consistency, speakers at the Non-QM Forum last week said.

Due diligence firms can use the review scope to assess seasoned residential mortgages, assigning positive grades for loans with 36 months of strong performance.

PennyMac Mortgage Investment Trust has been issuing about one prime non-agency MBS per month, stocking the deals with GSE-eligible mortgages for investment properties and second homes. Now the REIT is set to issue jumbo MBS.