Interesting fact: Most of these non-QM loans were originated by banks...

“It appears that the larger the investment, the larger the resentment,” Stratmor said.

Most of the loans are non-agency jumbos, but a handful are eligible for sale to Fannie Mae and Freddie Mac.

HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.

Clayton Services reviewed 2,164 mortgages for the planned Arroyo Mortgage Trust MBS…

Some $4.23 billion of prime jumbo MBS was issued in the first quarter of 2018, the best showing since 1Q15…

In 2017, Angel Oak affiliates originated a company record $1.1 billion of non-qualified mortgages, a 40 percent improvement from the year prior.

The Department of Veterans Affairs has drafted a proposed rule to curb predatory loan churning. The draft rule is “well on its way through concurrence with VA and the Office of Management and Budget,” said Jeff London, director of the VA Loan Guaranty Service, during an interview at the agency’s 19t Annual Lender Conference in Miami recently. He did not specify a publication date but said the proposed rule will be published “fairly soon.” Churning, or serial refinancing, involves multiple refinances of the same loan within short periods with no clear benefit to the borrower. In addition, churning triggers rapid prepayments in Ginnie Mae mortgage-backed securities to the detriment of investors and makes it difficult to price MBS appropriately. London declined to provide details about the rule’s content but said veterans and taxpayers would be protected. VA looked at a range of things that were common in the ...

It was the best showing for ABS since the second quarter of 2008…

Verus counts among its competitors Angel Oak, Caliber Home Loans, Citadel Servicing, Deephaven Mortgage and SG Capital Partners.