Fraud in a non-QM program nearly toppled Sterling Bank and Trust.

Issuance declined by 22.9% on a quarterly basis in the second quarter.

Banks are now more willing to deliver jumbos to Redwood due to regulatory pressure and other issues.

After a first-quarter rally, expanded-credit MBS issuance came back down to reality in the second quarter of 2023.

Redwood Trust believes banks will need to turn to new liquidity partners as regulatory pressure mounts.

Noncore product GSE volume remained low in the second quarter, save for an increase in conforming jumbos.

While home prices are providing a lift for jumbo originations, many banks have a risk aversion to the products in the current rate environment.

CrossCountry Mortgage teamed with Hildene Capital Management on originations of expanded-credit mortgages and MBS issuance.

Sterling Bank and Trust leadership said they were optimistic that they will be able to move forward after paying $27.2 million in restitution to shareholders tied to fraud on a shuttered non-QM program.

Entrepreneur Christian Faes has launched F2 Financing, a fix-and-flip lender looking to compete in the evolving sector.