To date, much of the revival in the new “subprime” mortgage market (non-QM) has been driven exclusively by nonbanks, but that’s beginning to change...

MBA worries that if the GSE patch expires without any corresponding reforms to "preserve access to credit," the residential mortgage market will be disrupted...

Across the board, lenders are reporting stellar origination growth from the first to second quarters of the year, but the last two application surveys from the Mortgage Bankers Association showed weekly declines of 1.9% and 1.1%, respectively…

On Fannie Mae and Freddie Mac loans, originators are permitted to use ADU to underwrite loans based on employment-related retirement assets or “certain other assets of applicants who are near retirement,” the OCC noted.

Angel Oak’s Tom Hutchens: “If you don’t commit to it and dedicate some resources, you are going to be even more inefficient.”

This is the third deal from WAMCO this year, following a $945.5 million transaction in May and a $285.6 million bond in February. The company brought out only one deal last year.

“The proposal we are considering would remove one potential obstacle IDIs [independent depository institutions] face in providing mortgage credit to homeowners,” said FDIC Chairman Jelena McWilliams.

Even with a weakened S&D market, FirstKey Mortgage was the top issuer of non-agency MBS at the midway point in 2019.

Boom times: Presale reports for three expanded-credit MBS were published on Monday. Meanwhile, the second-largest post-crisis deal is in the works and JPMorgan Chase is set to issue another non-QM MBS.