Proposed standards by state regulators for nonbank servicers could cause problems for smaller firms, according to industry attorneys. But state regulators defended the proposal ahead of the comment deadline.

Select Portfolio Servicing gained ground during the third quarter but Shellpoint Mortgage Servicing remained the top servicer of non-agency MBS. (Includes data chart.)

Three deals hit the market late last week. Chase issued a jumbo MBS backed by fresh loans while two other issuers packaged investment-property mortgages.

Velocity resumed lending in September, predicting that production could hit pre-pandemic levels by the second quarter of 2021. The nonbank also took a large charge-off in the third quarter.

First Federal Community Bank of Bucyrus lost an appeal in a lawsuit involving the ATR standards for income documentation.

GSE loan limits increase by 7.4% for 2021; non-agency forbearance rises.

Three new non-agency MBS were introduced in the market recently. Two of the deals are backed by mortgages for investment properties.

As president, Joe Biden will have to negotiate with both sides of Congress, limiting sweeping policy changes, according to industry analysts.

If not for the surge in originations and refi income, the delinquencies and defaults seen this spring could have caused some mortgage companies to fail, according to Federal Reserve Governor Michelle Bowman.

At the end of June, the the insurance giant laid claim to a residential whole-loan portfolio totaling $17.2 billion...