Financial technology lender SoFi is set to acquire a bank; United Wholesale Mortgage will cover appraisal costs on purchase mortgages through the end of March; mortgage tech companies raise capital; CoreLogic offers new fraud-detection service; low-code marketplace launched.
Non-agency MBS on offer in recent weeks include deals backed solely by mortgages originated by a Community Development Financial Institution, non-agency mortgages for investment properties and proprietary reverse mortgages.
Four firms are currently offering whole-business ABS. Two of the deals received ratings from both KBRA and S&P, though the rating services differed in their assessments.
Margin requirements for trading GSE MBS are on the way; the Fed will end its stimulus-related purchases of agency MBS in March; JPM readies its largest jumbo MBS since 2016.
Loan originators hurting for business as GSE refis decline should consider non-QMs, according to industry participants. Some major lenders are expecting non-agency lending to jump this year.