Change recently issued its first expanded-credit MBS to receive a AAA rating.

Wells Fargo stopped originating jumbos through the correspondent channel and few lenders moved to pick up the slack. Meanwhile, the retail channel gained market share. (Includes data chart.)

Change Mortgage’s unique approach to underwriting for underserved communities has earned the CDFI its first AAA-rated security.

First-lien holdings at banks increased somewhat in the first quarter of 2023. And recent bank failures led to portfolios changing hands. (Includes data chart.)

The share of no- or sub-ratio loans in the DSCR space rose to 43.7% in the first quarter of 2023, according to DBRS. A ratio of less than 1.0 indicates monthly rent doesn’t fully cover loan payments.

Renewed calls for standardization come with potential challenges unique to the non-QM sector.

The lender’s lawsuit alleges that a former account executive took private broker information from the company’s database and broke the lender’s noncompete clause.

Maryland passed legislation with new standards for shared appreciation agreements as the niche sector continues to see strong demand from homebuyers.

Surge of non-agency MBS hits market; Redwood partners with Oaktree on business-purpose loans; A&D Mortgage launches second-mortgage product; former First Republic CEO appointed to lead Turkey’s central bank.

S&P Global Ratings believes commercial MBS borrowers could face their most significant challenges since the Great Recession.