“They’re buying loans, not originating,” said Gordon Albrecht, EVP of FCI Lender Services, the nation's largest hard-money subservicer.

A company official explained that the new S-3 filing with the Securities and Exchange Commission is a successor document to one expiring at yearend.

In 3Q19, the top ARM lenders were Wells Fargo with $8.28 billion, Bank of America ($7.67 billion), and JPMorgan Chase ($5.43 billion).

Based in Irvine, the privately held lender/servicer services roughly $3.6 billion in loans.

The biggest wildcard for the sector: The Consumer Financial Protection Bureau’s handling of the QM patch...

IO lending increased in the third quarter, with First Republic leading the pack.

S&P has steered clear of the S&D market but still ranked third overall with a 24.4% share of year-to-date non-agency MBS ratings.

To this point, LendingHome's originations have been concentrated on fix-and-flip bridge loans.

What’s so interesting about the Sterling disclosure is that it comes from a bank. For the most part, depositories have shied away from non-QMs unless it’s jumbo product made to wealthy individuals…

Tom Hutchens of Angel Oak: “We are getting deeper in our markets.”