Altisource Asset Management is considering changes to its non-agency origination business as losses pile up. Alternatives under consideration include a sharp pivot to electric vehicle charging.
Non-QM lenders and MBS issuers are making adjustments amid a volatile secondary market. Issues include timing for MBS issuance and competition for new production.
Two new issuers are offering expanded-credit MBS, there’s a securitization backed by newly-originated second liens and the jumbo MBS market is showing more signs of life.
The performance of expanded-credit MBS was attractive to investors until interest rates increased throughout 2022. Higher rates cut into excess interest and slowed build-up of credit enhancement levels on outstanding deals.