Browse articles from IMFnews related to Nonconforming.

February 22, 2018 - IMFnews

PIMCO Suggests Leaving Fannie and Freddie in Conservatorship

PIMCO also believes government MBS loan limits should be based on borrower income, not housing prices…

February 21, 2018 - IMFnews

Short Takes: IU Chief Pagliara Weighs in on Supreme Court Decision / Bill Ackman is Now Underwater on his GSE Bets / NAMB Wants Ban on ‘Trigger Leads’ / Ditech Names Interim CEO but Does He Get the $5 Million?

It appears that Pershing Square is now under water on its GSE investments...

February 21, 2018 - IMFnews

PennyMac Readies Another ABS Backed by Ginnie Mae MSRs, Deal Receives Preliminary BBB- Rating

PennyMac likely will use the proceeds to buy additional servicing rights…

February 16, 2018 - IMFnews

What We’re Hearing: Death, Taxes and the GSEs / Sweet Tax Cows / Not a Peep Out of Pershing Square and Fairholme / The Wrath of Jeb / MSR Market Heats Up / A Huge Profit for Annaly / Citizens Bank Gets a New Mortgage Chief

Suffice to say, Fannie and Freddie are two cash cows that only a crazy person would eliminate, unless that crazy person doesn’t like money…

February 14, 2018 - IMFnews

Bill Would Restore REIT Access to FHLB Advances

Borrowing from the FHLB advance window would save REITs a ton of money…

February 13, 2018 - IMFnews

A Rosy Picture: Strong Performance for Non-QMs in MBS

The average credit score on loans in expanded-credit MBS issued in 2016 and 2017 was 704.9, according to a new analysis by Inside Nonconforming Markets.

February 13, 2018 - IMFnews

Nation’s Third Largest Servicer Nationstar Agrees to Merge with KKR-Backed WMIH

Nationstar’s stock is publicly traded, but is majority owned by Fortress Investment Group, which late last year was sold to SoftBank.

February 13, 2018 - IMFnews

Redwood Set to Issue One of its Largest Jumbo MBS Deals Ever (Post-Crisis Era)

The GSE-eligible loans have an average unpaid principal balance of $549,259 while the non-agency mortgages have a UPB of $703,898…

February 12, 2018 - IMFnews

Ocwen EVP of Lending Otto Kumbar Departs – and with a Nice Severance Package

Kumbar will be paid $1.25 million for leaving Ocwen, a package that also includes a relocation reimbursement…

February 12, 2018 - IMFnews

Origination of Non-Agency Jumbos Fell 18 Percent in 2017

Wells Fargo had a more diverse product mix than its nearest rivals…

February 8, 2018 - IMFnews

Better Mortgage Launches Refi Program for Airbnb Hosts, Providing Favorable Treatment to Income from Primary Residences

Better Mortgage will use a borrower’s average Airbnb earnings from the last 24 months...

February 6, 2018 - IMFnews

House Poised to Pass Qualified-Mortgage Tweak

However, there is no companion legislation in the Senate...

February 6, 2018 - IMFnews

TIAA Preps Jumbo MBS with Loans Originated by Unit Formerly Known as EverBank

In recent years, only two other banks have issued jumbo MBS: JPMorgan Chase and Flagstar...

February 5, 2018 - IMFnews

Citadel Posts Record Originations in January. Angel Oak is Busier than Ever

Citadel is working on its first MBS deal…

February 5, 2018 - IMFnews

GSE Single-Family Business Off to a Weak Start in January

It was the GSEs’ weakest monthly output since May 2017…

February 5, 2018 - IMFnews

Redwood Brings Largest Expanded-Prime Jumbo MBS to Date

The MBS will include credit enhancement of 10.0 percent on the senior tranche, similar to other expanded-prime MBS from Redwood.

January 31, 2018 - IMFnews

Widespread Support for HFSC Portfolio QM Bill

However, at the markup, the bill was amended to limit the types of mortgages that will receive QM status.

January 30, 2018 - IMFnews

Short Takes: Mnuchin Says Treasury Remains Committed to GSE Reform / The 30-Year FRM Must Survive / More Private Capital, Yes / Thomas Marano’s New Problem to Solve: Walter / After 25 Years, Exec Bolts PHH for Home Point

Mnuchin said the 30-year FRM cannot survive without Fannie and Freddie...

January 30, 2018 - IMFnews

Investors in Walter Get a Sweet Deal: a 9 Percent Note Rate

According to a new SEC filing, the unsecured notes previously matured in 2021 and carried a yield of 7.88 percent.

January 30, 2018 - IMFnews

Industry Starts to Worry as Yield on the 10-Year Hits Yearly High; Insolvencies? PHH Falls to 52-Week Low

The only firms that are feeling overly bullish are nonprime shops such as Angel Oak and Citadel Servicing…

January 30, 2018 - IMFnews

More Lenders Contributing to Prime Jumbo MBS; Flagstar Becomes a Player

Flagstar contributed $1.02 billion to jumbo MBS last year, or 9.4 percent of the total market…

January 24, 2018 - IMFnews

Investor That Settled Insider Trading Charges Amasses a 10-Percent-Plus Stake in Ocwen

Ocwen is trying to put its regulatory problems in the rearview, while focusing on being a subservicer…

January 24, 2018 - IMFnews

Deephaven Readies New Nonprime MBS with Mortgages from Angel Oak, Impac, 61 Others…

In total, 63 lenders contributed to the new MBS from Deephaven…

January 23, 2018 - IMFnews

CFPB Chief Mulvaney Hangs Tough in Nationwide Biweekly Case

However, the bureau eventually pressed ahead, arguing to uphold the judgment against the biweekly lender…

January 22, 2018 - IMFnews

Short Takes: Fannie, Freddie and the Government Shutdown / Ginnie Mae Down to a Skeleton Crew? / Sorry, Call Later When We’re Open / But the CFPB is Open for Business / New LOs for Mortgage Network

HUD tells the mortgage industry: “Due to the federal government shutdown, the information on this website may not be up to date…”

January 22, 2018 - IMFnews

Redwood’s Net Income Increased as the REIT Boosted ‘Expanded-Credit’ Activity

Redwood said profit margins exceeded its "long-term expectations" of 75 to 100 basis points...

January 19, 2018 - IMFnews

What We're Hearing: GSE Reform is Dead, Here’s Why / Okay, Maybe a 20 Percent Chance of Passage / What’s Riskier? GSE Stock or Bitcoin? / Nonbank CEO Ready to Depart / Brett Hively Resurfaces / FHA and the Government Shutdown

The White House may be committed to GSE reform, but Republicans are not...

January 19, 2018 - IMFnews

Non-Mortgage ABS Issuance Hit a Post-Crisis High in 2017

Total non-mortgage ABS production climbed to $211.72 billion in 2017, the market’s strongest year for new issuance since 2007…

January 18, 2018 - IMFnews

Galton Funding Tests the Non-Agency MBS Waters

Most of the mortgages in the MBS were underwritten with full documentation…

January 18, 2018 - IMFnews

Four Years In, Non-QM Market Struggles to Amass Volume

Authoritative numbers on the size of the non-QM space are difficult to come by.

January 17, 2018 - IMFnews

In 4Q17, A Sharp Increase in Prime Jumbo MBS, and Expanded-Credit Deals

Expanded-credit MBS – which include loans with alternative documentation, non-qualified mortgages and nonprime loans – hit $4.08 billion in 2017…

January 16, 2018 - IMFnews

Short Takes: GSE Reform, Yes. Passage? No / Galton’s Return to Nonprime / Citi’s Incredibly Shrinking MSR Portfolio / Legislative Reg Relief On the Way? / English Wants Expedited Review in CFPB Appeal

GSE reform may emerge from the Senate Banking Committee, but as for final passage...

January 16, 2018 - IMFnews

New Prime Jumbo MBS from Chase Smaller than Previous Deals

In the new MBS, 41.9 percent of the mortgages were eligible for sale to Fannie Mae and Freddie Mac…

January 12, 2018 - IMFnews

PennyMac Enters Broker Channel Looking for Growth in Purchase Mortgages and Jumbos

After some delays, PennyMac Financial Services launched its broker channel operations this week.


How many new retail loan officers (net) is your shop looking to hire in the first quarter of 2018?

1 to 10. We’re being careful.
11 to 30. We’re feeling slightly bullish.
31 or more. We’re in expansion mode.
None. We’re staying right where we are, for now.
We’re cutting back.

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