A unit of Cerberus Capital Management is preparing to issue a non-agency MBS backed by loans that have seasoned for an average of 8.9 years...

One senior mortgage manager, who has been in the business for 25 years., said despite what lenders may say about closing times, actual experience is probably worse. “No one is closing under 30 days,” he said. “Most will be over 50 days.”

To date, most of Citadel's mortgages have been sourced through loan brokers, but recently the company hired a correspondent manager, Alan Peviani...

Wells Fargo was the top issuer in 2Q with $16.0 billion, followed by PennyMac and Freedom Mortgage.

The titans of the industry – the four banks with over $1 trillion in total assets – shrank their mortgage portfolios by a combined 0.5 percent over that period.

Mat Ishbia, CEO of United Wholesale, stressed that interest-only mortgages are for “well informed” borrowers.

The dollar volume of the jumbo security differs significantly from a $189 million deal suggested by American Mortgage Consultants last week

ABS issuance has climbed steadily since bottoming out in 2010, and this year is on track to exceed $200 billion in annual issuance for the first time in eight years.

During the first six months of 2015 UWM funded $6.78 billion. “It was our best six months ever,” CEO Mat Ishbia told IMFnews...

Trading in non-agency MBS, by comparison, is almost non-existent with June's volume coming in at just $2.9 billion.