Tax reform legislation on track for enactment by the end of the year could have an outsized impact on the jumbo market, according to industry analysts. The House and Senate are currently working to reconcile differences between their versions of the Tax Cut and Jobs Act. A concern for jumbo lenders is that both versions of the bill would set a $10,000 limit for deductions relating to state/local property taxes and eliminate deductions for state/local income taxes. The House bill ...

The nonprime mortgage-backed security closed by Angel Oak Capital Advisors at the end of November was oversubscribed, according to Lauren Hedvat, director of capital markets at the firm. The $210.2 million AOMT 2017-3 was backed by mortgages originated by Angel Oak Mortgage Solutions, Angel Oak Home Loans and Angel Oak Prime Bridge. Non-qualified mortgages accounted for 83.9 percent of the dollar volume in the MBS. Angel Oak said it’s ... [Includes two briefs]

FHA this week announced a 6.8 percent increase in loan limits nationwide for 2018 with 26 counties seeing increases above the national rate. In high-cost areas, the loan-limit ceiling will rise to $679,650 from $636,150 in 2017, while the floor will increase to $294,515 from $275,665. In addition, the national mortgage limit for Home Equity Conversion Mortgages (HECMs) or reverse mortgages will rise to $679,650 from $636,150. FHA regulations do not allow HECM loan limits to vary by metropolitan statistical area or county. Instead, the single limit applies to all mortgages regardless of where the property is located, the agency explained. In between the floor and the ceiling is a broad band of loan limits for single-family forward mortgage loans set at 115 percent of median house prices. The forward limits vary according to MSA and county. The changes in the loan limits are the result of ... [ Chart ]

Lombardo joins Walter, the parent of Ditech Financial, from the community banking division of JPMorgan Chase.

Redwood: “We will offer new ways for these [nonbank] sellers to optimize their capital bases…”

Sen. Elizabeth Warren wants a complete list of OMB staffers who have been detailed to the CFPB by Mulvaney...

The issuance figures suggest that investors are gaining comfort with the non-QM asset class…

But news of the settlements wasn’t doing much for their stock prices. Both were down slightly on the day.

According to figures compiled by affiliate Inside Mortgage Finance, Redwood ranked 11th among all non-agency jumbo producers through Sept. 30 with a volume of $2.99 billion.

Nine senators said they would work to invalidate any new rules issued by the CFPB if Leandra English prevails in her attempts to unseat and replace the bureau’s acting director, Mick Mulvaney...