State regulators launched a “networked supervision” exam system in March, aiming to improve the exam process for nonbanks. Some 35 regulators are using the system, with mixed results.
Chase is set to issue one of the largest post-2010 prime non-agency MBS with new production while Credit Suisse has a smaller non-QM deal with somewhat seasoned mortgages.
In a note to investors, Compass Point analyst Isaac Boltansky estimated that, with combined annual profits of about $21.4 billion, it will take 11 years for Fannie and Freddie to reach FHFA’s capital targets…
Issuance of non-agency MBS declined by 41.5% from the third to the fourth quarter. On an annual basis, volume was off 12.7% as the market struggled to recover from volatility in March. (Includes data chart.)
The REIT set a company record for locked jumbo business in the third quarter and then went on to break it in the fourth quarter. Redwood is focusing on prime jumbos as its expanded-credit lending has stalled.