Bank of America, Morgan Stanley and Wells Fargo are preparing to issue the first commercial MBS that will comply with risk-retention requirements, according to presale reports published this week. While industry participants continue to debate which type of risk-retention will be more commonly used, the pending $870.56 million MBS will include vertical retention. Wells Fargo Commercial Mortgage Trust 2016-BNK1 received provisional AAA ratings from Fitch Ratings, Kroll Bond Rating Agency and Standard & Poor’s. Fitch said the three originators contributing to the MBS will retain credit risk representing 5.0 percent of pool balance via the vertical retention option. Risk-retention requirements for commercial MBS take effect...

One of the largest players in the "new" nonprime mortgage industry is Citadel Loan Servicing, Irvine, CA, which now has a portfolio totaling $600 million.

Some industry reps say the omission of more guidance on cures will hurt the jumbo secondary market, where anxiety over assignee liability is high...

PennyMac is also a large subservicer with $52.0 billion worth of contracts on its books.

FHFA officials said the directive is not being made available to the public.

Overall, Fannie Mae’s bottom line was bolstered by a strong quarter for originations: $510 billion in the second quarter compared to $380 billion in the first, according to Inside Mortgage Finance.

Looks like JPMorgan Chase is getting ready to issue yet another jumbo MBS...

Under the agency’s current rules, residential servicers must tell a mortgagor about their foreclosure prevention options just once over the life of a loan.

The three agencies securitized $43.09 billion of purchase mortgages last month, a 15.3 percent increase from June.

Banks, thrifts and credit unions still accounted for 66.0 percent of the $7.206 trillion in single-family mortgages serviced by the top 50 companies, Inside Mortgage Finance found.