The second prime non-agency mortgage-backed security from an affiliate of American International Group is a lot like the MBS the company issued in March, but the new deal received favorable treatment from the rating services, with lower credit enhancement on the senior tranche. PSMC 2018-2 Trust will be a $429.4 million issuance, according to presale reports published last week. The mortgages have an average credit score of 773, an average debt-to-income ratio of 33.0 percent ...

Flagstar Bank is set to issue a non-agency mortgage-backed security stocked solely with investment-property mortgages eligible for sale to the government-sponsored enterprises. The issuance is a first in the post-crisis era and it suggests that Flagstar expects better execution in the non-agency market than from delivering the loans to Fannie Mae or Freddie Mac. Flagstar Mortgage Trust 2018-3INV will be a $329.1 million issuance, according to presale reports published ...

Residential firms looking to sell mortgage servicing rights are in a sweet spot right now. However...

Fannie disclosed the single-security “may adversely affect our financial results and contribute to declines in the liquidity or market value of our MBS.”

HomeStreet restructured its mortgage business last year…

According to a tally by Inside Mortgage Finance, few warehouse providers bucked the trend of falling commitments.

Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...

Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…

In the first quarter, 12.61 percent of purchase loans sold to the GSEs fell into the highest risk category…