An affiliate of Invictus Capital Partners is set to issue a unique non-agency mortgage-backed security backed by loans on investor properties that differs from the structure of typical single-family rental deals. Invictus’s Verus Mortgage Capital predominantly focuses on non-qualified mortgages and has issued deals backed by non-QMs along with a sprinkling of mortgages on investment properties. Many other nonprime MBS issuers have brought similar deals. The planned $258.4 million ...

Redwood Trust is set to issue a “bespoke” prime non-agency mortgage-backed security. The deal largely looks like other MBS from Redwood, but a spokesperson for the real estate investment trust said the MBS was tailored for one investor. Kroll Bond Rating Agency placed preliminary ratings on the planned $338.7 million Sequoia Mortgage Trust 2018-4 last week. The deal is scheduled to close on April 20. There are only minor differences between the MBS and three other ...

Eave, a direct-mortgage lender, launched recently with a focus on jumbo mortgages, technology and low fees. The originator, only operating in Colorado at the moment, claims to be able to close loans about twice as fast as “brand name” lenders. “We took the entire mortgage universe apart and put it back together, better,” the firm said, touting its underwriting process. The lender claims that more than 60 percent of the information collected by other lenders from ...

The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.

Ron Faris, the current president and CEO of Ocwen Financial, will retire on June 30. After Ocwen’s pending acquisition of PHH Corp. closes, Glen Messina will be president and CEO of Ocwen, the nation’s largest subprime servicer. Messina was previously president and CEO of PHH. During the first quarter of 2018, Wells Fargo sold $1.60 billion of its holdings of vintage pick-a-pay mortgages. The sale generated a gain of $643.0 million for the bank. The buyer ... [Includes four briefs]

There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.

Ditech added that under new leadership, the lender/servicer “continues to develop and execute various strategies to improve” its performance.

The new non-agency MBS from Invictus is a bit of a rarity: the bond is backed only by mortgages on single-family rental properties.

During 1Q18, issuance of MBS backed by seasoned loans fell 50.8 percent…

Now comes the big question: How many more MB Financials are out there?