It's the first HELOC securitization from Figure to receive a credit rating.

The Dodd-Frank Act directed the SEC to write a rule addressing conflicts of interest in securitization.

However, drastic market changes are likely as Wells Fargo ends its correspondent lending efforts...

It's the second DSCR non-agency MBS from Chase, following a deal issued in November.

The SVB sale includes a “loss sharing” arrangement between regulators and First Citizens…

Retail remained the predominant source of jumbo originations in 2022. Changes in the makeup of the market are expected as Wells Fargo recently exited the correspondent channel. (Includes data chart.)

An effort by big banks to prop up First Republic Bank triggered downgrades by rating services and only temporarily paused the decline in the bank’s share price. The bank is considering various strategic options.

Lenders originating ARMs weren’t able to buck the broader trend of declining originations in the fourth quarter of 2022. Still, on an annual basis, the ARM share nearly doubled in 2022 thanks to rising interest rates. (Includes data chart.)

The bank has been addressing fraud in its non-QM program since late 2019. The cleanup has involved fines, settlements, buybacks and the departure of more than 100 officers and employees.

Holdings of first-lien mortgages at banks and thrifts increased by nearly 10% in 2022. First Republic Bank stood out with a nearly 30% increase. (Includes data chart.)