Bill Ashmore, the former president of Impac Mortgage Holdings, is trying to raise money for a new venture that will focus on non-qualified mortgages. Ocwen Financial forgave approximately $857 million in mortgage debt in 2017, according to the firm. Since the beginning of 2008, the servicer has completed more than $18.5 billion of principal forgiveness via loan modifications, largely on non-agency mortgages. Velocity Commercial Capital is set to ... [Includes three briefs]

The loans in Chase's new MBS have an average balance of $527,877.

The idea is to offer “a space where businesses can test innovative products and processes without risk of regulatory consequences,” according to the Mortgage Bankers Association…

Charges were also filed against Paul Menefee, the former head banker of Barclays’ subprime MBS unit...

Newfi Lending has rolled out a new non-agency jumbo loan program for its wholesale mortgage broker partners aimed at high-asset borrowers who are difficult to qualify. The program, Sequoia Portfolio Plus, is designed as a go-to alternative for creditworthy borrowers who could not qualify for conventional jumbo loans due to a less-than-stellar credit history. Sequoia combines the best of jumbo and nontraditional borrowing options, explained Newfi CEO Steve Abreu ...

Moody’s noted that if the provision becomes law, small banks won’t have to meet certain documentation requirements included in the CFPB’s ability-to-repay rule…

Several lenders now provide financing to this unique niche and more might join the party as 2018 progresses.

It’s not as though some Congressman or Senator is about to introduce consensus GSE legislation...

The weighted average credit score is 701 and average LTV is 76.8 percent...

As part of his employment package, Mangiaracina is entitled to a severance payment of at least $750,000…