Fannie Mae called upon FEMA to provide improved disclosures while some industry stakeholders suggested expanding the areas subject to mandatory flood insurance.
Bayview Asset Management and Flagstar Bank are the latest non-agency MBS issuers to stock deals with investment-property mortgages that could have been sold to Fannie and Freddie...
Issuance of prime jumbo MBS increased by 54% on a sequential basis in the second quarter. Refis accounted for much of jump, including a large amount of loans with a cash-out component. (Includes two data charts.)
Mortgage production increased by 26% in the second quarter on a sequential basis at the jumbo-focused First Republic Bank. And lock volume declined by 15% at Redwood.
The "patch" that provided QM status to every mortgage eligible for sale to the GSEs is no longer in effect. With fewer incentives to originate mortgages that comply with GSE standards, lenders could boost non-agency originations.
Toorak Capital Partners expanded its securitization activities into 30-year mortgages for investment properties. Bayview Asset Management and Goldman Sachs have jumbo MBS in the market, and a number of other issuers are planning deals.