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…Read More
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…Read More
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.Read More
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...Read More
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.”Read More
Wells Fargo is Back! Megabank Launches First Post-Crisis Non-Agency MBS October 10, 2018 Brandon Ivey New nonagency deals are pending from loanDepot and New Residential as well…Read More
Non-QM Lenders Angel Oak and Citadel Post Record Production Quarters in 3Q18 October 10, 2018 Paul Muolo Angel Oak and Citadel continue to hire while the megabanks are cutting back...Read More
DBRS: Losses on Non-QM MBS are Rare, Investors Feel Protected October 9, 2018 Brandon Ivey Despite the good news, DBRS said if the economic environment becomes more distressed, some non-QM borrowers may come under pressure…Read More
One-Month Bank Statement Mortgages Questioned October 8, 2018 Brandon Ivey A handful of lenders offer one-month bank statement programs…Read More
Short Takes: Waiting on a Client / Layoffs at Eli Global? / Bonuses: Based on Volume or Profits? / New Penn Rolls Out New Non-QM Loan / NewDay Hires a Former Governor October 8, 2018 Brandon Ivey and Paul Muolo One source familiar with Eli Global’s mortgage operations said layoffs have occurred at the company’s mortgage unit...Read More
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