JPMorgan Chase is set to issue its first MBS stocked solely by non-qualified mortgages on primary residences. Many of the loans in the $440.54 million deal went to self-employed borrowers.
In a positive sign for the non-agency MBS market, JPMorgan Chase is set to issue a $440.54 million MBS stocked with non-qualified mortgages for primary residences. It will be the the first big bank to do so.
LendingHome recently issued a $219 million asset-backed security with fix-and-flip loans originated by the firm; Reliant Bancorp, Brentwood, TN, launched a correspondent purchase program for non-qualified mortgages in March; Angel Oak Mortgage Solutions expanded its office space in Dallas and Atlanta.
Industry participants are increasingly calling for the qualified mortgage “patch” to be addressed as part of broader efforts to overhaul the nation’s housing-finance sector.
Issuance of mortgage-backed securities with non-qualified loans continues at a brisk pace, with a new deal from New Residential Investment in the pipeline.
An affiliate of Oaktree Capital Management is set to issue its first mortgage-backed security with non-qualified loans. The $268.16 million issuance includes loans from two prominent lenders who haven’t been large players in the non-QM MBS market recently.
Lower GSE loan limit not a priority for SFIG; whole loans present alternative to non-agency MBS for investors; jumbo MBS issuance may wane with home price appreciation...
Prepayment rates on mortgage-backed securities with non-qualified mortgages have slowed due to interest rate trends and a shift in borrower characteristics, according to industry analysts.
Carrington Mortgage Services loosens its underwriting guidelines and improves pricing for various expanded-credit products; Home Point Financial joins the expanded-credit market; Essent Group isn't interested in proving PMI for non-QMs...
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