Is Caliber once again dancing with PHH?

Angel Oak said more warehouse banks are growing comfortable with non-QM collateral…

As recently as three years ago, few companies were willing to finance originations of nonprime mortgages, either via warehouse funding or acquiring the paper as whole loans. Daniel Perl, CEO of Citadel Servicing, said there are currently a number of Wall Street companies and other firms that will provide a certain amount of liquidity for one to three years, while demand for whole loans and MBS is also increasing. “There’s a lot to be said for this market today that you couldn’t say three years ago,” he said earlier this month during a webinar hosted by Inside Mortgage Finance. Tom Hutchens, a senior vice president of sales and marketing at Angel Oak Mortgage Solutions, said...

During the second quarter, Fannie Mae, Freddie Mac and the Veterans Affairs home loan guaranty program all saw significant increases in production of “agency jumbo” loans – mortgages with loan amounts exceeding the baseline $417,000 agency loan limit. A new Inside Mortgage Finance analysis reveals that the agencies’ combined jumbo production, including FHA activity, rose 53.3 percent to $36.2 billion during the second quarter. That represented the highest quarterly total since “emergency” high-cost loan limits were established in the aftermath of the financial crisis. The FHA had...[Includes three data tables]

Meanwhile, other lenders said they are hearing reports of correspondent originators slowing down the sale of closed loans to Wells.

The Redwood CEO said the MBS offer a number of benefits to Chase, including effectively cutting the guaranty fee…

Morgan Stanley was offering a 5/1 IO ARM with an interest rate of 3.850 percent for loan amounts below $1 million…

The task force consists of 20 MBA member companies, led by Alex McGillis of Quicken Loans and Erik Schmitt of JPMorgan Chase.

The effort by some non-agency MBS investors to create an entity to protect investors took a step forward as a sample deal-agent agreement was circulated late last week in advance of the ABS East conference in Miami. A deal agent would be tasked with protecting the interests of investors in non-agency MBS, including duties of care and loyalty. The leaders of the effort, James Callahan, a principal at Pentalpha Global and Alessandro Pagani, head of securitized assets at Loomis Sayles & Company, said the market should adopt the agreement as the template for new non-agency MBS. However, the sample agreement leaves...

Tom Hutchens, SVP of sales and marketing at Angel Oak, said originations of nonprime non-QMs have predominantly been purchase mortgages. However, refinance activity is starting to increase…