Banks and thrifts increased their holdings of first-lien residential mortgages in 2018, according to a new analysis by Inside Nonconforming Markets. [Includes one data chart.]
The two-day hearing this week on an outline for housing-finance reform offered participants in the non-agency market an opportunity to call for legislative reform in the sector.
The correspondent channel expanded its share of jumbo originations in 2018, according to an Inside Nonconforming Markets analysis of survey responses to affiliated Inside Mortgage Finance. [Includes one data chart.]
Lenders originating fix-and-flip loans and mortgages for single-family investment properties are seeing strong demand from investors in the secondary market.
After years of being prohibited by regulators from acquiring servicing rights, Ocwen Financial is back in business as a buyer in full force. [Includes one data chart]
Issuance of mortgage-backed securities with non-qualified loans continues at a brisk pace, with a new deal from New Residential Investment in the pipeline.
An affiliate of Oaktree Capital Management is set to issue its first mortgage-backed security with non-qualified loans. The $268.16 million issuance includes loans from two prominent lenders who haven’t been large players in the non-QM MBS market recently.
Moody’s Investors Service has flagged risks related to non-agency players using the automated underwriting tools developed by the government-sponsored enterprises to produce loans underlying private-label mortgage-backed securities.
The representations and warranties provided on new non-agency mortgage-backed securities are receiving renewed attention from industry participants. Issuers of prime jumbo and expanded-credit MBS, particularly, have been subject to criticism.
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