SEC to meet MBS issuers; HPS acquires Citadel; Anworth plans non-QM MBS; Quontic streamlines non-QM refis; Ocwen takes a loss on servicing for New Residential.

The bureau’s plan to replace the QM patch could reduce the volume of mortgages that flow into the non-agency market, according to analysts. The CFPB is working to avoid disruption to GSE-eligible originations.

Vista Point Mortgage received an assessment by S&P, which suggests the firm is aggregating non-QMs with plans to contribute to non-agency MBS. The firm was founded by the former president of Impac Mortgage.

After halting its main non-qualified-mortgage program due to procedural issues, Sterling Bank and Trust is planning new products with tighter underwriting standards.

Redwood is prepping a large prime non-agency MBS while Quicken issued its second deal. Seer Capital has an expanded-credit product in the works and Velocity a small-balance commercial loan deal.

FDIC eases disclosure standards for non-agency MBS; industry seeks delay in revisions to risk-retention requirements; MBA wants NCUA to follow bank regulators on non-agency appraisal standards; Maxex touts trading volume; A&D Mortgage using LoanScorecard.

The CFPB is considering eliminating the DTI ratio metric when determining the QM status of a mortgage and instead basing the designation on the interest rate. The proposal was met with mixed reactions.

Invictus is set to issue its largest expanded-credit MBS yet. Angel Oak and Caliber also have deals in the market.

Velocity completes IPO; losses on Angel Oak’s MBS temporary; Radian sells Clayton; Provident Bank acquires non-agency warehouse lender; GSF Mortgage launches jumbo product; Customers Bank takes a loss.

At least eight expanded-credit MBS rated by DBRS Morningstar suffered losses in the second half of 2019. Investors, though, were protected due to high credit enhancement levels.