The parent company of United Wholesale Mortgage was the top originator of mortgages in prime non-agency MBS issued in the third quarter. Underwriting standards haven’t changed much in the past year. (Includes two data charts.)

GSE 2020 baseline conforming loan limit; ARRC fallback language for ARMs; Finance of America Reverse reduces eligibility age for non-agency products.

Seven non-agency MBS deals are in the market at the moment, including five expanded-credit MBS. Many other deals are also in the works.

No publicly registered deal has been issued since the SEC tightened disclosure requirements in 2014. However, revisions contemplated by the agency could change all that.

A strategic plan from FHFA includes proposals to help the non-agency secondary market better compete with Fannie Mae and Freddie Mac.

Redwood’s mortgage banking income decreased in the third quarter as falling interest rates lessened demand for MBS. Execution rebounded in October after interest rates increased.

Wells Fargo is set to issue its second-largest post-crisis prime non-agency MBS while PIMCO has a deal backed by seasoned mortgages.

JPMorgan Chase Bank issued a deal this month that looks like it will meet requirements for favorable capital treatment by the OCC. The transactions could prompt similar issuance by other banks.

A proposal by the FDIC to decrease disclosure requirements for certain non-agency MBS issued by banks largely found support from industry participants. However, MBS investors and consumer advocates raised concerns.

The $490 million acquisition of CoreVest, a major player in the single-family rental market, will help Redwood diversify its revenue sources.