Redwood Trust scaled back its jumbo business in 2022 and doesn’t have plans for a significant expansion any time soon, even with Wells Fargo’s exit from the correspondent channel.

Shellpoint Mortgage Servicing handled servicing duties on close to 50% of the non-agency MBS issued in the fourth quarter. Select Portfolio Servicing reduced its activity during the quarter. (Includes data chart.)

Rising interest rates and financial volatility battered the non-QM market in 2022. This year almost has to be better by default, according to industry participants.

Redwood suggested Wells Fargo's exit from the correspondent channel won't boost the REIT's fortunes in the near term.

The DOJ continues to investigate issues involving a non-QM program Sterling Bank & Trust ended in 2019. Fallout from the program continues to cut into the bank’s profitability.

In late January, 57% of borrowers paid at least half a point to buy down the rate on their loan...

Most of the non-agency MBS on offer within the past two weeks was stocked with mortgages for investment properties.

HomeXpress preps its first non-agency MBS; A&D loosens non-QM guidelines; bridge loan partnership; FoA revises second-lien reverse mortgage product.

Delinquencies and impairments continued to increase on unsecured consumer ABS and subprime auto ABS at the end of 2022. Credit card ABS performance is holding up better.

Credit Suisse completed the first part of the sale of its securitized products group; tighter pricing for Fannie with latest CRT offering; SEC’s rating service report light on details; retrial in GSE shareholder case set for July; RMF’s planned securitization scuttled.