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Fitch Faults Other Rating Services for AAA Grade on Galton’s Non-Agency MBS

October 18, 2018
Brandon Ivey
The three rating services noted the unique treatment of unpaid interest in their presale reports…
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Short Takes: BCFP, Not CFPB / At MBA, Standing Room Only for Mick Mulvaney / Annaly Readies Non-QM MBS / A Warehouse Securitization Deal for loanDepot / Cash is King

October 18, 2018
Paul Muolo and Brandon Ivey
An affiliate of Annaly Capital Management is preparing to issue a $384 million mortgage-backed security stocked with non-qualified mortgages and loans for investment properties…
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loanDepot Preps Second Prime Non-Agency MBS of the Year; Galton Increases ECM Issuance

October 17, 2018
Brandon Ivey
Some 20.9 percent of the loans in the new loanDepot MBS are eligible for sale to the GSEs, down from 40.7 percent in the previous deal from the nonbank…
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Flagstar Readies Non-Agency MBS Stocked with GSE-Eligible Loans for Investment Properties

October 16, 2018
Brandon Ivey
Some 78 percent of the loans are GSE-eligible mortgages for investment properties…
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Short Takes: GSE Pilot Hearing Postponed / An Opportunity to Gather Intelligence? / Freddie's Qualification Tool for Self-Employed Borrowers / GSE Duty-to-Serve Updates / New Hires for ComplianceEase, Element Funding

October 14, 2018
Paul Muolo and Carisa Chappell
The Senate Banking Committee's review of GSE pilot programs will have to wait...
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Non-Agency MBS Issuance Drops Sharply in 3Q18 as Nonprime Tops Prime

October 12, 2018
John Bancroft
The highlight of the third quarter was the steady growth of the nonprime market…
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Mortgage Venture Partners Plans to Buy Nonagency Loans with an Eye Toward Securitization

October 12, 2018
Brandon Ivey
Mortgage Venture Partners is also working on a non-qualified mortgage jumbo second lien product…
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Quicken Loosens Underwriting on Jumbos

October 12, 2018
Brandon Ivey
For jumbo cash-out refis, Quicken is now allowing for combined loan-to-value ratios up to 80.0 percent on loan balances up to $1.0 million.
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What We’re Hearing: A Cyclical Business / What Will Treasury’s Craig Phillips Say about the GSEs? / Advice From loanDepot’s Anthony Hsieh / Unsolicited Resumes from Production Employees / Jim Malloy Departs Impac Mortgage After 15 Years / PennyMac’s First

October 12, 2018
Paul Muolo
Anthony Hsieh's advice for the mortgage industry: Start selling...
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More REITs Eyeing the Non-QM Sector. A Large MBS Deal in the Works?

October 11, 2018
Paul Muolo
MFA CEO Craig Knutson said he’s pleased the REIT has “gained traction on these new acquisition efforts, which involve relationships cultivated over the past year or more.”
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