Nonconforming

Browse articles from IMFnews related to Nonconforming.

March 26, 2019 - IMFnews

LendingHome Issues $219 Million ABS Backed by Fix-and-Flip Loans

Fix-and-flip loans typically payoff in about seven months...


March 25, 2019 - IMFnews

Caliber Affiliate the Latest Issuer to Bring its Second ‘Expanded-Credit’ MBS of the Quarter

The mortgages boast an average credit score of 736...


March 22, 2019 - IMFnews

What We’re Hearing: Goldman Sachs is Doing What? / A Wall Street Warm Up? / 10.75% Money for Freedom Mortgage / A Grade of B+ / The Green New Deal a More Important Issue than Calabria? / CoreLogic Executive Lands Top Post at Fannie Mae

In the Senate, the 'Green New Deal' is more important than Mark Calabria?


March 22, 2019 - IMFnews

Surprise: Goldman Sachs Aggregating Jumbos and Conforming Loans for Non-Agency MBS

Goldman hasn’t been active in the prime non-agency MBS market except for a one-off deal in 2014.


March 21, 2019 - IMFnews

The Non-QM Bright Spot Continues to Grow

“In 2018, our lending units saw a distinct rise in the popularity and use of non-QM products as more creditworthy borrowers turned to these innovative options,” said Angel Oak’s Michael Fierman…


March 20, 2019 - IMFnews

JPM Pondering Non-QM Finance Opportunities?

“They’ve approached a few lenders,” he said, “and have some others to see.”


March 19, 2019 - IMFnews

Chimera Readies Another Non-Agency MBS Backed by GSE-Eligible Investment Loans

Some lenders and MBS issuers are seeing better execution for GSE-eligible loans in the non-agency market…


March 19, 2019 - IMFnews

Strong Growth for Jumbo Servicing in 2018

Wells Fargo, JPMorgan Chase and Bank of America had a combined jumbo servicing market share of 61.4% at yearend, according to figures compiled by Inside Nonconforming Markets…


March 18, 2019 - IMFnews

Short Takes: A New Wave of Optimism? / Value Your CFO / Feds Plan Community Hearings on BB&T-SunTrust Deal / MFA Buying Plenty of Whole Loans. Can An MBS Be Next? / Former HUD Official Pam Patenaude Lands

Mortgage REIT MFA Financial, New York, bought roughly $1 billion worth of loans during the fourth quarter...


March 18, 2019 - IMFnews

Non-QM Lender Angel Oak Quickly Returns to the MBS Market with its Largest Deal Yet

The underlying mortgages have an average credit score of 703...


March 15, 2019 - IMFnews

What We’re Hearing: The Changing of the Guard at the FHFA / A Deep Resume / Retained Capital for Fannie and Freddie, a Matter of When? / The Holy Grail / Impac Mortgage, Act III / FHA Moves to Sure Up its Book

An increase in retained earnings is a pre-cursor to GSE “recap and release,” or as Fannie/Freddie investors call it, the Holy Grail…


March 15, 2019 - IMFnews

FHFA’s Otting in a Position to Bolster the Non-Agency Market

SIFMA’s Daniel Goodwin: “Financial regulators must create a level playing field so that entities like the GSEs do not enjoy capital benefits that add to the tilting of the market…”


March 15, 2019 - IMFnews

A Challenging 4Q18 for Impac; Lender Sells $10.5B of MSRs

In the fourth quarter, Impac’s gain-on-sale margin increased 85 basis points to 203 bps, a reflection of its growing originations of non-QM loans.


March 14, 2019 - IMFnews

CFPB Promises to Resolve GSE ‘Patch’ Responsibly

In January, the CFPB released a five-year look-back report assessing the implementation and effect of the ability-to-repay rule…


March 14, 2019 - IMFnews

Home-Equity Market Sagged in 2018, but Still a Bright Spot

Credit unions reported a 19.5% increase in closed-end second originations from the first half of 2018 to the second half…


March 13, 2019 - IMFnews

Short Takes: More Non-QM MBS Deals on the Way / What’s Ginnie Mae Really Worried About? / A Big ‘Nothing Burger’? / What Borrowers Want When They Shop Online for a Mortgage / Amherst’s Appetite for SFR / A New Hire for Incenter

Another official described the Ginnie Mae change as a “nothing burger…”


March 12, 2019 - IMFnews

Sterling Bank and Trust, Citadel Servicing Top Contributors to Oaktree MBS

Sterling will account for 58% of the loans in the MBS, Citadel 23%...


March 11, 2019 - IMFnews

New Residential Readies Second Non-QM MBS of the Quarter

A number of firms regularly issue one non-QM deal per quarter. Two transactions is less common...


March 8, 2019 - IMFnews

New Issuer Set to Enter Non-QM MBS Market: Oaktree Funding

The planned Bunker Hill Loan Depository Trust 2019-1 from Oaktree Funding will be stocked with non-QMs along with business-purpose mortgages.


March 7, 2019 - IMFnews

Moody’s Raises Concerns About Disclosures of Jumbo MBS Rep/Warrant Breaches

bivey@imfpubs.com Issuers of prime jumbo mortgage-backed securities aren’t doing a good enough job of providing details of potential breaches of representations and warranties to MBS investors, according to Moody’s Investors Service. Breaches of reps and warrants on post-crisis jumbo MBS are few and far between. But in a report released Wednesday, Moody’s said the information available on the handful of breaches is insufficient. …


March 5, 2019 - IMFnews

SFIG Almost Done with MBS Reforms, Adoption Uncertain

The Structured Finance Industry Group’s years-long effort to reform practices in the non-agency mortgage-backed security market is nearly complete ...


March 4, 2019 - IMFnews

Short Takes: Pondering the Letter Sent to Joseph Otting / Among the Signors… / More MSR Auctions in the Works / MetLife Has a Nice War Chest of Whole Loans / A New Hire at Gateway Mortgage

More servicing-related auctions are in the pipeline, including a $2.97 billion Fannie Mae/Freddie Mac portfolio from Phoenix Capital...


March 4, 2019 - IMFnews

Feds and Florida Seek to Merge Ocwen Lawsuit

Seeking a merger of the complaints, federal and state regulators now believe their cases overlap sufficiently regarding questions of law and fact…


March 4, 2019 - IMFnews

Expanded-Credit Production Spikes 20% in 2018

Angel Oak and Citadel Servicing Corp. both turned in banner years...


March 1, 2019 - IMFnews

Nonbanks’ Non-QM Acquisition Strategies Differ

MFA, on the other hand, is acquiring non-QMs from several unidentified lenders via whole loan acquisitions…


March 1, 2019 - IMFnews

Bank ABS Portfolios Showed a Modest Increase in 4Q18

Consumer asset-backed securities, including unsecured debt consolidation loans and education financing, remained the most popular ABS category for banks…


February 28, 2019 - IMFnews

ATTOM: Fewer Home Flips but More Borrowed Money

Translation: fewer loan units but a higher dollar volume.


February 26, 2019 - IMFnews

Short Takes: How Fast for Calabria? Very Fast / It Pays to Have a Godfather / What About a ‘Hold’? / Record Attendance at SFIG Vegas / Mixed Opinions on Expanded-Credit

Now for the big question: Will any Democratic senators put a hold on the Calabria nomination?


February 26, 2019 - IMFnews

Angel Oak Rolls Out Fix & Flip Wholesale Option, Hires JPM Exec

To lead the effort, Angel Oak hired JPMorgan executive Will Jackson…


February 22, 2019 - IMFnews

Coming Up Roses: Nonprime MBS

Verus first launched its acquisition program in 2015. As of the end of October, the company had purchased mortgages with an aggregate principal balance of $3 billion…


February 21, 2019 - IMFnews

Short Takes: BSI Looking to Buy MSR Portfolios / Goldstone Running the Program / A Red Hot Servicing Market / A Strong Quarter for Texas Capital / Slip, Sliding Away: Fannie’s and Freddie’s Subprime Assets

A red hot servicing market is keeping deal makers happy...


February 19, 2019 - IMFnews

Short Takes: The Largest Post-Crisis Nonprime MBS? / FICOs as Low as 500 / Reasons for Getting Out (Blame the Tech Giants?) / Sell One, Buy Two / Movement EVP Taveekanjana Departs for Envoy

Jumping from Movement Mortgage to Envoy Mortgage: Tony Taveekanjana...


February 19, 2019 - IMFnews

JPM Set to Issue Another Jumbo MBS Backed by Loans with High LTVs

United Shore Financial Services originated 60.6% of the collateral…


February 19, 2019 - IMFnews

Jumbo Lending Falls in 4Q18 On Weaker Demand

In the jumbo qualified mortgage space, 21 of 60 banks reported weaker demand…


February 15, 2019 - IMFnews

What We’re Hearing: Calabria, a Sure Bet? / Warm Thoughts About Fannie-Freddie Loan Limits / Retaining More Capital / Congress? / Conservatorship Purgatory / Looks Like Radian is in Play / A Sale Dragging On and On and On: Genworth / Industry Vet Rudy Orman Lands

On the doorstep: The recap and release of Fannie and Freddie?


February 15, 2019 - IMFnews

Activist Elliott Pondering a Bid for Deephaven Mortgage?

Non-QM lenders are in demand these days, or so it appears…


February 15, 2019 - IMFnews

Redwood Cites Strong Competition in the Non-Agency Market

Redwood President Dashiell Robinson said demand for whole loans remains strong...


February 14, 2019 - IMFnews

Annaly Posts a Whopping $2.25 Billion Loss for 4Q18, Eyes the Non-Agency Market

Annaly CEO Kevin Keyes said the REIT is working to diversify its investment strategy, including a focus on acquiring new non-agency mortgages…


February 13, 2019 - IMFnews

Short Takes: A Nice Month for Pershing Square / No Mention of the GSEs / A Mortgage-Related M&A Deal Drags On / Delayed by the Chinese New Year / A New MBS From Deephaven / Pavaso Hires Mortgage Tech Vet Tim Anderson

After two-plus years of waiting, the Genworth deal has yet to close...


February 13, 2019 - IMFnews

Seer Capital Management Stocks Its First Non-QM MBS with Loans from HomeXpress, Athas

This marks Seer’s maiden voyage into the non-QM MBS market…


February 12, 2019 - IMFnews

Galton Increases IO Mortgage Share in Latest Expanded-Credit MBS

Loans from 51 lenders are represented in the new transaction, led by JMAC Lending…


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