The correspondent share of jumbo originations declined in the first quarter of 2019 after reaching relatively high levels in the second half of 2018. The retail channel remained the main source of production while brokers gained market share.
Participants in the non-agency market are looking forward to the end of the “GSE patch,” anticipating significant increases in non-QM activity as long as federal regulators provide certainty regarding the rules of the road.
The regulator has overturned disciplinary sanctions levied by the Public Com-pany Accounting Oversight Board against an auditor of Thornburg Mortgage, now defunct.
ARRC publishes details on how MBS and ABS linked to LIBOR can transition to a different reference rate. The fallback language applies to newly-issued deals.
Regulatory relief for banks on mortgage servicing assets doesn’t amount to much, according to industry participants. Some of them warned that banks will leave the sector due to harsh capital requirements even as regulators defended their decisions.