Browse articles from IMFnews related to Nonconforming.

September 25, 2018 - IMFnews

Sprout Executive David Akre: Make Non-QMs or Cut Overhead. Your Choice

Matt Nichols, CEO of Deephaven Mortgage, said the share of LOs that actually offer non-QMs is in the single digits.

September 24, 2018 - IMFnews

Nonprime Lender Deephaven Taps LoanScorecard’s AU Software

Recently, Inside Nonconforming Markets published its second quarter ranking of expanded-credit lenders, but Deephaven did not appear.

September 24, 2018 - IMFnews

IO Originations Spiked by 25 Percent in 2Q18

Angel Oak Lending, Citadel Servicing and Navy Federal Credit Union all had IO gains of more than 60 percent during the quarter.

September 21, 2018 - IMFnews

Deephaven Set to Issue its Largest Nonprime MBS to Date

Mortgages from 74 lenders will be included in the deal…

September 20, 2018 - IMFnews

Surprise: Non-Agency Option Dings GSE Conforming-Jumbo Business

More conventional loans that fit under the GSE loan limits for high-cost markets are ending up in non-agency mortgage-backed securities…

September 19, 2018 - IMFnews

Short Takes: Freddie Talking to Potential MSR Borrowers / Fannie’s New HLTV Refi Option / Plenty of GSE-Eligible Loans in New JPM MBS / LendingTree’s $10k Prize / A New Director at Fannie Mae

On Nov. 1, Fannie Mae will begin accepting applications for its new high loan-to-value ratio refinance product.

September 19, 2018 - IMFnews

Former Goldman Officials Launch Non-QM Wholesaler to Feed its Growing Aggregation Business

Steve Skolnik, an industry veteran with a long career in nonprime lending, was recently hired as CEO…

September 19, 2018 - IMFnews

Chimera Packs GSE-Eligible Loans on Investment Properties into New Non-Agency MBS; Caliber a Top Contributor

Three nonbank lenders, all owned by PE firms, are key contributors to the deal…

September 17, 2018 - IMFnews

Wells Fargo Ready to Break its Jumbo MBS Drought

Wells Fargo accounted for 15.0 percent of all jumbo mortgages originated during the first half of 2018…

September 14, 2018 - IMFnews

Questions Linger on Caliber and ‘Full Documentation’

The differences are tied to how the rating services define full documentation.

September 14, 2018 - IMFnews

Redwood Queues Up Fourth ‘Expanded-Credit’ MBS Deal of the Year; 106 Lenders Provide Collateral

Mortgage firms providing collateral for the new EC MBS include Fairway Mortgage, Guild Mortgage, PrimeLending and others…

September 13, 2018 - IMFnews

Short Takes: Late for an Anniversary / GSE Reform: A Solution Searching for a Problem / ClearEdge Lending Ramps Up / Warehousing the Non-QM Market / LendingTree Shareholders Not Smiling Right Now

Silvergate Bank is actively providing warehouse lines of credit to non-QM lenders and we understand that Comerica is now sticking its toe in the water…

September 13, 2018 - IMFnews

Home-Equity Lending Up Sharply in 2Q18, but Market Far Below Its Potential

Mortgage lenders generated an estimated $54.0 billion of new home-equity loans during the second quarter, up 18.7 percent…

September 12, 2018 - IMFnews

Jumbo Servicing Balances Up by Almost 11 Percent Year Over Year

Flagstar Bank and Shellpoint Mortgage Servicing had significant increases in their jumbo servicing portfolios over the past year…

September 11, 2018 - IMFnews

Eager to Buy Jumbos, Redwood Offers a ‘Working Capital’ Option

During the second quarter Redwood deployed $40.0 million in customized financing for nonbanks…

September 11, 2018 - IMFnews

Blackstone Takes a Hard Look at Some of Incenter’s Mortgage-Related Operations

As one source put it: “Blackstone wants you to make it big or you’re gone.”

September 10, 2018 - IMFnews

Correspondent Channel a Flashpoint in Competitive Jumbo Market

While total jumbo originations among the lenders increased by 37.1 percent on a quarterly basis, correspondent volume was up by 63.7 percent.

September 7, 2018 - IMFnews

Strong Performance for Nonprime Mortgages. 60-Day Delinquencies of Less Than 4 Percent

Fitch views prepayments as a positive credit factor…

September 7, 2018 - IMFnews

Non-Agency MBS Issuers Aim for Specificity on Rep-and-Warrant Framework

Alston & Bird: “We’ve all learned the hard way…”

September 6, 2018 - IMFnews

Latest Nonprime MBS from Lone Star (Caliber) Stocked with Purchase Mortgages, FRMs

The weighted-average coupon is 6.50 percent.

September 5, 2018 - IMFnews

Blackstone Hires Former Clayton Chief to Head TORO Unit

Blackstone TORO likes to buy non-QM products...

August 31, 2018 - IMFnews

Competition for Jumbos Squeezing Margins

John Anzalone of Invesco Mortgage: “In particular, there are a few very aggressive large buyers out there that get a lot of attention and have caused quite a bit of spread compression…”

August 31, 2018 - IMFnews

Lower GSE-Eligible Share in Latest Prime Non-Agency MBS from Flagstar

All of the loans in the deal were originated by Flagstar...

August 30, 2018 - IMFnews

Short Takes: Federal Help for the Gig-Worker Mortgage Market? / New SBC Programs from Silver Hill / Consultant Roque: LO Pay Isn’t Being Cut Quickly Enough / Fairholme: Fannie and Freddie are So Undervalued / A New Customer Service VP for RoundPoint

According to industry consultant Rick Roque, residential originators are not lowering loan officer compensation quickly enough...

August 30, 2018 - IMFnews

More Lenders View Non-QMs and EC Mortgages as a Viable Option

Angel Oak and Citadel Servicing, two of the larger originators of expanded-credit products, each increased production by more than 30.0 percent from the first to the second quarter.

August 29, 2018 - IMFnews

Short Takes: A ‘Significantly’ Less Liquid Secondary Mortgage Market? / In Five Years the GSE Loan Limit Would be Zero (for Example) / Origination Capacity Remains Elevated / Fannie Exec Joins RoundPoint

Origination capacity in the mortgage industry remains “elevated,” according to a new report from PiperJaffray.

August 29, 2018 - IMFnews

Bank ABS Investment Rebounds in 2Q18

In fact, bank ABS investment began to taper off at about the same time the supply of ABS outstanding began to grow again.

August 28, 2018 - IMFnews

Expanded-Credit Lending Gains, but Not as Much as Overall Market

The top-five EC lenders are: Redwood, U.S. Bank, Angel Oak, Citi and Citadel Servicing…

August 27, 2018 - IMFnews

Short Takes: Don’t Worry About the Government / Don and Maxine, Fireworks Ahead? / Steve’s Choice / Invitation Homes CEO Takes A Leave of Absence / Customers You Never Need to Call (A Good Thing)

Cowen believes Rep. Maxine Waters will use the post to go after President Trump and his White House team...

August 27, 2018 - IMFnews

No Longer for Sale, RoundPoint Sells Shares in Private Placement

Of the $17.2 billion that RoundPoint subservices, roughly $3.0 billion is non-agency product, said Alan Price, an executive at the company…

August 27, 2018 - IMFnews

More GSE-Eligible Loans in New MBS from JPMorgan Chase

The top contributors to the MBS: Chase, AmeriHome and loanDepot…

August 24, 2018 - IMFnews

Rating Services Increasingly Differ on Assessments of Residential MBS

Among the tranches of residential MBS issued this year that received ratings from multiple firms, nearly 40.0 percent of the bonds had so-called split ratings, with different assessments by different rating services.

August 22, 2018 - IMFnews

Great Ajax Looks to Increase Servicing for Others with Expansion of Gregory Funding Unit

Gregory Funding is in the first year of a three-year expansion plan…

August 21, 2018 - IMFnews

Fix-and-Flip Loan Market Continues to Hum Along

CALCAP is looking to expand into the Texas market…

August 17, 2018 - IMFnews

What We’re Hearing: Two Giants May Change Hands (Or Maybe Not) / Job Cuts at Ditech / Can HL Sell Ditech Fast Enough? / Tom Marano’s Experience with Troubled Shops / CALCAP Bullish on Fix-and-Flip / A Confidential GSE File On…

It might be in Ditech’s best interest if Houlihan Lokey finds a buyer now while MSR values are still peaking…

August 16, 2018 - IMFnews

Bankers Ask for TRID Exemption on Single-Family Construction Loans

Bankers argue that single-family construction loans should be exempt from TRID because they are temporary and cover construction activity…

August 16, 2018 - IMFnews

Angel Oak Readies Non-Agency MBS

Select Portfolio Services will handle the monthly servicing chores for Angel Oak.

August 16, 2018 - IMFnews

Jumbo Originations Up Sharply in 2Q18

Wells Fargo, JPMorgan Chase and Bank of America were the top producers of jumbo loans in the second quarter…

August 15, 2018 - IMFnews

Short Takes: Who Needs the GSEs? / JPM’s Strategy / Subservicers on the Auction Block? / New Diligence Advisors Gets the Seal of Approval from KBRA / Atlantic Bay Mortgage Won’t be Buying VA Bank After All

We know of one large subservicer that’s for sale (Ditech Financial), but a second processor may also be considering offers.

August 15, 2018 - IMFnews

Surprise: Quicken Rolls Out Private Sector Reverse Mortgage

Funding for Quicken's new reverse mortgage will come from securitization…

August 15, 2018 - IMFnews

Moody’s Gives loanDepot an ‘Average’ Assessment

This spring, loanDepot was rumored to be a takeover target of Internet retailer…

August 15, 2018 - IMFnews

RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges

Among those subprime MBS investors: Fannie Mae and Freddie Mac.

August 14, 2018 - IMFnews

RBS Agrees to Pay DOJ $4.9 Billion to Settle MBS Fraud Charges

Overall, RBS underwrote $261.1 billion of subprime securities during the go-go years...

August 14, 2018 - IMFnews

Expanded-Credit Mortgage Securitization Falters Ever So Slightly in 2Q18

The biggest increase has been in the new breed of Alt A securities…


Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.
The wholesale/table funder. They’re taking the financial risk.
The broker, but only for the first year. After that, the borrower is fair game.
Hard to answer. It’s a complicated issue.

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