LendSure is licensed in 12 states, with approvals pending in seven more…

Some 30 percent of jumbo application denials were tied to debt-to-income ratios, compared to 15 percent for all loan types.

Some $1.57 billion in prime non-agency MBS were issued in the fourth quarter, down 61.3 percent…

In 2016, the non-agency MBS market was a dud…

It looks like Redwood Trust will be the first out the door with a jumbo security in 2017. Who’s next?

With two of the nation’s largest originators of nonprime and non-qualified mortgages hoping for a record production year in 2017, the mostly anemic securitization market for these types of credits could receive a real boost. But the big question remains: how much will the two firms – Angel Oak Mortgage Solutions and Citadel Servicing Corp. – tap the MBS market? In 2016, the Irvine, CA-based Citadel funded...

Two Wall Street banks have agreed to separate settlements with the Department of Justice to resolve civil claims related to their issuance and underwriting of nonprime residential MBS leading up to the financial crisis. Under the terms of the settlements, Credit Suisse and Deutsche Bank have agreed to pay the DOJ $2.48 billion and $3.1 billion, respectively, related to the securitization, underwriting and issuance of residential MBS prior to 2008. In addition, Credit Suisse ($2.8 billion) and Deutsche Bank ($4.1 billion) will provide...

With structured finance performance having peaked for many sectors, analysts at Fitch Rating and S&P Global Ratings anticipate some modest asset-level deterioration in 2017 – most notably in both prime and subprime auto ABS. On the other hand, they expect relatively stable performance from credit card ABS. “Both prime and subprime auto ABS loss rates could be...

Issuance of prime non-agency mortgage-backed securities fell sharply during 2016 from already low issuance levels, according to a new ranking and analysis by Inside Nonconforming Markets. Forecasts for issuance this year are largely subdued, with some industry analysts noting that the prime non-agency MBS market is “in limbo.” Some $9.32 billion in prime non-agency MBS were issued in 2016, a 22.8 percent decline from the previous year. Issuance volume ... [Includes one data chart]

A number of large investors that purchased non-agency mortgage-backed securities before the financial crisis have indicated that they won’t be willing to invest in new issuance until issuers standardize representations and warranties. “Investors have lost confidence in the architecture of this market,” an investor said in December at the Structured Finance Industry Group’s RMBS Symposium, which was produced by Information Management Network. The investor was frustrated ...