While S&P will rate new non-agency MBS without formal guidance from the CFPB, the rating service noted that the market’s handling of TRID issues is fluid...

Blackstone continues to expand its presence in the mortgage industry on several fronts. In late January, it bought Interactive Mortgage Advisors, a Denver-based servicing advisory firm.

State regulators have been particularly concerned about growth in recent years by nonbank servicers such as Ocwen Financial, the largest subprime servicer. Ocwen, of course, is now shrinking.

On the subject of delayed closings, one agent had this to say: “All of my closings are taking two to four weeks longer to close, and there has been a lot of confusion…”

In after-hours trading Wednesday, its share price was down 20 percent to $2.25.

Pricing on the deal was good, but investor fears rule the day.

“Investors are taking the conservative approach,” said the Morrison & Foerster attorney. “No one wants to be the test case. They’re all worried about what a court might say.”

Roughly $41.42 billion of non-mortgage ABS were issued in the first quarter, up 35.8 percent from the unusually low volume at the end of 2015.

Altavera chief Brian Simons said staffing requests suggest the industry is preparing for an increase in non-QM business.

Thanks to a resurgence of deals backed by vehicle-related financing, non-mortgage ABS production rebounded strongly in the first three months of 2016, according to a new Inside MBS & ABS analysis and ranking. But ABS issuance levels came up well short of the volume generated during the first three months of last year, and a few key segments continued to limp along. A total of $41.42 billion of non-mortgage ABS were issued...[Includes two data tables]