Issuance of prime non-agency MBS declined by nearly 80% from the second to the third quarter. Expanded-credit MBS issuance also wavered, though at a much slower pace.

Debt service coverage ratio loans for investment properties are starting to look more risky as the Fed works to address inflation. Still, activity in the sector is increasing.

Bayview Asset Management and Verus Mortgage Capital separately started marketing non-agency MBS in the days after Hurricane Ian made landfall. Rating services that assessed the deals differed in their focus on potential damage from the hurricane.

An affiliate of Bayview Asset Management is set to issue its first jumbo MBS since December. Loans in the deal have seasoned for an average of 4.5 months and were sourced from a number of lenders.

Sterling Bank and Trust paid $6 million to settle charges from the OCC regarding a now-shuttered non-QM program. Investigations by the DOJ and SEC are ongoing.

Distressed borrowers with subprime mortgages in states with a judicial foreclosure process achieve non-foreclosure outcomes at a higher rate than similar borrowers in states that don’t have a such a process, according to findings from a new paper.

Moon Mortgage plans to offer loans with underwriting based on crypto holdings. Both purchase mortgages and investment-property loans are planned, with borrowers needing to post 100% of collateral.

Redwood offers some early insight on third quarter performance; Fitch upgrades assessment of Carrington Mortgage; LauraMac launches loan acquisition system; Toorak tops $10 billion in funding since inception in 2016.

The bank's originations lean heavily toward jumbos...

A trial that started in September after years of delays ended with a settlement. Bank of America agreed to pay $1.84 billion to settle claims tied to non-agency MBS issued by Countrywide Financial prior to the 2008 financial crisis.