While the delinquency rate is near pre-COVID levels, the number of seriously delinquent borrowers is significantly higher.

The average combined LTV ratio on the new jumbo MBS from Chase is 86.6%.

“The rate of improvement is expected to change very little between now and the end of the year,” Black Knight said.

Industry veteran Rudy Orman of Reliant Bank worries about lenders offering debt service coverage ratios of less than 1.

Another mortgage-related special purpose acquisition company deal? Well, sort of...

The retail channel share of jumbo originations is coming back down to earth while the broker channel is receiving a boost thanks to United Wholesale Mortgage, among others. (Includes data chart.)

In a familiar refrain, participants in the non-QM market suggest the sector is ready for takeoff. Still, technology in the non-QM market lags compared with the GSEs.

Some non-agency lenders are widening the credit box to uncomfortable levels, prompting discussion at the ABS East conference this week.

Wells Fargo was the only bank among the top 10 holders of first liens to reduce its portfolio during the third quarter. The bank’s holdings are also down sharply on an annual basis. (Includes data chart.)

Issuers of prime non-agency MBS are increasingly removing loans subject to third-party due diligence reviews from the final MBS pools. Kroll Bond Rating Agency said the practice is a slippery slope.