Browse articles from IMFnews related to Nonconforming.

July 13, 2018 - IMFnews

Latest Expanded-Prime MBS from Redwood Somewhat Smaller than Previous Deals

Sequoia Mortgage Trust 2018-CH3 will be a $416.96 million issuance, according to a presale report by Kroll Bond Rating Agency.

July 11, 2018 - IMFnews

Verus Affiliate Set to Issue Largest Post-Crisis Nonprime MBS to Date

Roughly 44.6 percent of the loans were underwritten with alternative documentation or bank statements…

July 11, 2018 - IMFnews

Moody’s Warns that Non-Agency Underwriting Standards Could Deteriorate

Under the Economic Growth, Regulatory Relief and Consumer Protection Act, banks with less than $10 billion in assets can receive QM treatment for certain loans...

July 10, 2018 - IMFnews

Ditech’s Future: An ‘Asset’ or a ‘Stock’ Sale? Opinions Differ

Of course, Ditech has a bit of back story…

July 6, 2018 - IMFnews

DBRS Tops in Rating Non-Agency MBS

Kroll Bond Rating Service moved up from fourth place in 2017 to start this year in second…

July 5, 2018 - IMFnews

Despite Higher Rates, ARMs Slow to Catch On

The top six ARM lenders are all commercial banks, led by Bank of America…

July 5, 2018 - IMFnews

Street Firms Inch Their Way Back into the Nonprime (Non-QM) Market

A handful of Street firms are now actively making repo lines in the sector…

July 3, 2018 - IMFnews

Short Takes: An MSR-Only Sale for Ditech? / Layoffs at The Money Source / Fannie and Freddie Trim Subprime Holdings / A Capital Raise for Redwood / New Rez Closes on Shellpoint Deal

TMS called it a “realignment,” explaining the cuts are part of a plan to “fuel fintech growth.”

July 3, 2018 - IMFnews

A Big Decline for Interest-Only Originations

Among all IO originators, First Republic Bank ranked first with $1.54 billion…

June 29, 2018 - IMFnews

What We’re Hearing: A Lifeboat Too Small? / Non-QM Loans Performing Well, So Far / Ridiculous Housing Prices Continue / A 40 Percent Disappearance Rate? / A Recession Might Save the Day / Fannie Trouble? / Costly Borrowing for WMIH

Once risk-layering appears and LTV ratios climb, then all bets are off...

June 27, 2018 - IMFnews

Short Takes: HUD Chief Carson Gives a Target Date for FHA Condo Rule / Different Agencies, Different Criteria / No Changes in Ratings on Fannie and Freddie / Angel Oak Promotes Jumbo Loan / FHFA IG Official Steps Down

FHA may soon have a new condo lending rule, but one lobbyist called it "four years too late..."

June 27, 2018 - IMFnews

CDFI-Designated Lender Inks Deal to buy Oregon Retailer LoanStar. Buyer will Beef Up Non-QM Production

LoanStar was founded five years ago by industry veteran Mike Baldwin…

June 26, 2018 - IMFnews

Short Takes: Amazon Moves Ahead with Banking Plans / A Martini for Ditech / Cooperman and Ocwen / More Cost Cutting at Ocwen / Britti Gets a New Title / U.S. Bank Hires Wells Fargo Official

Leon Cooperman has been increasing his stake in Ocwen Financial and now owns about 11 percent of the firm…

June 26, 2018 - IMFnews

Impac Partners with Commercial REIT Starwood on Non-QM Loans

Starwood began acquiring non-QM loans last fall using Federal Home Loan Bank advances...

June 25, 2018 - IMFnews

Originator of Mortgages in Non-Agency MBS from Credit Suisse Purposefully Unidentified

Presale reports for non-agency MBS backed by new originations typically identify lenders that account for at least 5.0 percent of the contributions…

June 22, 2018 - IMFnews

Jumbo Demand Steady After Tax Reform

“We didn’t observe any meaningful change in purchase loan application trends compared to earlier years,” said Archana Pradhan of CoreLogic.

June 20, 2018 - IMFnews

Angel Oak Set to Issue its Largest Nonprime MBS to Date

The non-QM MBS also includes loans originated by unaffiliated lenders, including Sterling Bank & Trust…

June 20, 2018 - IMFnews

On the Ascent: Jumbo Servicing Balances

One of the fastest growing jumbo servicers is Shellpoint Mortgage…

June 19, 2018 - IMFnews

Financiers Take an Interest in Non-QM Sector. Cantor Fitzgerald Making the Rounds

At least two foreign-based investment banks are ready to enter the non-QM market...

June 19, 2018 - IMFnews

A 13.5 Percent Gain for ‘Expanded-Credit’ Originations

Citadel, one of the earliest entrants to the new expanded-credit market, funded $295.0 million of loans in the first quarter, a 19.4 percent sequential increase…

June 15, 2018 - IMFnews

Flagstar Increases Due Diligence Sample Size with Latest Prime Non-Agency MBS

Some rating services have concerns that a 20.0 percent due diligence sample rate is too low…

June 14, 2018 - IMFnews

Jumbo Mortgage Production Down Sharply in First Quarter

Wells Fargo ranked first among non-agency jumbo originators, followed by Chase and Bank of America…

June 13, 2018 - IMFnews

Merrill Lynch Faulted by SEC for Non-Agency MBS Trading Practices from 2009 through 2012

In settling with the SEC, Merrill Lynch did not admit or deny the findings…

June 12, 2018 - IMFnews

Short Takes: No Relief in Sight for GSE Common / Pershing Square in a World of (GSE) Hurt? / JMP Likes Impac / Consumer Data Collection Returns to the CFPB / Plaza Home Promotes Fontaine

JMP likes the higher profit margins that accompany non-QM lending…

June 11, 2018 - IMFnews

Pittsburgh Bank Agrees to Sell its Consumer Finance Unit

Besides selling RFC, the publicly traded FNB is consolidating 20 of its branches in a cost cutting move.

June 8, 2018 - IMFnews

What We’re Hearing: Time to Enter the Non-QM Market? / LoanScorecard is Bullish on the Sector / Citadel and AO Keep Humming Along / FTC Wants to Know More About How the RE Brokerage Industry Works / A Bunch of ‘Yes Men’ on the CFPB Advisory Board? / Mulvaney, Disruptor (And Loving It)

To conservatives in the financial services industry, Mick Mulvaney is a hero.

June 8, 2018 - IMFnews

So Much Home Equity, But Not Much Lending. Reason: Tight Underwriting

Home equity outstanding hit a peak of $13.43 trillion in the first quarter of 2006 then tumbled during the financial crisis...

June 7, 2018 - IMFnews

Home-Equity Lending Starts the Year on a Flat Note

Bank of America once again ranked first in terms of new HELOC commitments, according to Inside Mortgage Finance…

June 6, 2018 - IMFnews

Short Takes: Hey, Hands Off of GSE Multifamily / What Ed DeMarco Wanted To Do / Cuts at Stearns? / More Non-QM Lenders Target Self-Employed Borrowers / New Hires at Promontory MortgagePath

Over the years it seems as though commercial banks have basically ceded the multifamily market to nonbanks that use the GSEs as their secondary market takeout…

June 6, 2018 - IMFnews

Competition for Non-QMs Slowing Ellington’s Plans

CEO Laurence Penn said he hopes the flow of non-QM originations will increase…

June 5, 2018 - IMFnews

Short Takes: Angel Oak Buys Stake in Commercial MB / Questions Being Asked about Trading in GSE Corporate Bonds / Texas Mortgage Shop Closes? / A New Hire for Pavaso

Another mortgage company has closed. This one in Texas...

June 4, 2018 - IMFnews

HMDA: Purchase Share of Jumbos Increased in 2017

Meanwhile, Guaranteed Rate, Flagstar and HomeBridge Financial more than doubled their jumbo lending in 2017...

June 1, 2018 - IMFnews

What We’re Hearing: Making Lemons out of Lemonade / Mortgage Brokers Trim Staff / A RIF at Movement Mortgage / The FHFA-OCC Connection / Conventional Lenders Eyeing the Non-QM Market? / A Tech Firm Looked at NSM

Although some conventional lenders are struggling with lower volumes, Angel Oak and Citadel Servicing Corp. are humming along...


With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

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