Browse articles from IMFnews related to Nonconforming.

May 23, 2018 - IMFnews

Latest Prime Non-Agency MBS from Chase Divided Evenly Between Non-Agency Loans and GSE-Eligible

Chase is the top contributor to the MBS with a 45.0 percent share, followed by United Shore Financial Services at 16.5 percent and Caliber Home Mortgage at 5.2 percent.

May 22, 2018 - IMFnews

Deephaven Set to Issue its Latest Nonprime MBS, Stocked with Non-QMs and Business-Purpose Loans

Non-QMs account for 81.1 percent of the dollar volume of the planned MBS while the other loans are for rental properties and exempt from ability-to-repay standards.

May 21, 2018 - IMFnews

Non-Agency Jumbo Lending Tumbled In 1Q18, Sector Loses Market Share

Production of non-agency jumbo mortgages declined significantly in the first quarter of 2018, according to a new ranking and analysis by Inside Nonconforming Markets.

May 18, 2018 - IMFnews

Mixed Trends for Non-QM MBS

Mortgage-backed securities investors remain interested in non-qualified mortgages, though the hot market may be cooling off.

May 15, 2018 - IMFnews

Short Takes: USMI Seconds that GSE Emotion / Don’t Hold Your Breath / Mid America Enters the Warehouse Arena / Fannie Selling NPLs / A Recession Coming? / Freddie Gets a New Chief Compliance Officer

Barry Habib, who heads MBS Highway, believe that within two years, the U.S. will be in a recession...

May 15, 2018 - IMFnews

Flagstar Packages GSE-Eligible Mortgages on Investment Properties into Non-Agency MBS

Packaging the loans into a non-agency MBS suggests that Flagstar expects better execution in the non-agency market than from delivering the mortgages to Fannie Mae or Freddie Mac.

May 15, 2018 - IMFnews

Secondary Market Activity Strong in 2017

Originators also sold $483.13 billion of loans to unaffiliated buyers outside of the agency market…

May 14, 2018 - IMFnews

Lenders Quantify Cost, Impact of CFPB’s ATR Rule

Lenders estimated that ATR/QM added $139 per loan to their ongoing origination costs.

May 11, 2018 - IMFnews

Nonbanks Ready to Crank up the Non-QM MBS Machine

Starwood Property Trust, a REIT largely focused on commercial mortgages, has been stockpiling non-QMs…

May 10, 2018 - IMFnews

Non-QM Lender Angel Oak Ventures into Small-Balance Commercial Market

Angel Oak's small-balance commercial unit employs 19 full-timers and hopes to add an additional 30...

May 10, 2018 - IMFnews

Impac Posts a $3.9 Million Profit for 1Q18, Aided by MSR Markup. Originations Drop 20.1 Percent

New CEO George Mangiaracina said the nonbank’s servicing portfolio is serving as a counter-cyclical balance to declining originations…

May 9, 2018 - IMFnews

Retail, Mortgage Brokers Dominate in Expanded-Credit Lending

MBS from Angel Oak Companies had the highest share of broker originations…

May 8, 2018 - IMFnews

Short Takes: Ditech Sets Comp Package for New CEO Marano / Share Price Struggles / Two Ditech Directors Take Home the Bacon / GE Sets Aside $1.5B for WMC Settlement / Better Hires CFO

Ditech directors – George Awad and Neal Goldman – had pay packages of $573,700 and $553,500, respectively.

May 8, 2018 - IMFnews

Redwood Posts a Handsome Profit for 1Q18, Reports Strong Demand for Jumbos

Redwood is set to issue its largest expanded-credit MBS ever: A $520.48 million security backed by…

May 7, 2018 - IMFnews

Jumbo Production Declines in 1Q18, but Optimism for the Spring

“Los Angeles, San Francisco and Boston continue to be quite supply-constrained,” said First Republic CEO James Herbert.

May 3, 2018 - IMFnews

Chimera More than Doubles Profit with Focus on Seasoned Loans, Sees Promise in Jumbos

Chimera CIO Mohit Marria: “The thirst for yield from the investor base remains strong.”

May 2, 2018 - IMFnews

Net Income of $8.3M for Great Ajax, REIT Looks to Acquire More RPLs

Great Ajax’s forte is buying re-performing mortgages…

May 1, 2018 - IMFnews

Short Takes: Freddie Mac Multifamily Continues to Shine, but… / UWM Rolls Out New Website / Seed Money / Nationstar Looking at a Large MSR Markup? / Mulvaney: I’m Not Running a Yelp / New Hires for Freddie, Angel Oak

Not too long ago, UWM rolled out a $500,000 grant program designed to allow LOs to start their own loan brokerage firms...

April 30, 2018 - IMFnews

Redwood Trust to Acquire Minority Stake in Non-Agency Lender 5 Arches

“The opportunity for us is clear,” said Christopher Abate, president of Redwood. “Capital needs in this still emergent sector of housing finance continue to rise..."

April 27, 2018 - IMFnews

Western Asset Goes Big with its First Non-QM MBS: A $1.25 Billion Deal

Interesting fact: Most of these non-QM loans were originated by banks...

April 27, 2018 - IMFnews

MSR-Investing REIT New Residential Has a Blowout 1Q18: A Profit of $614.3 Million

New Residential said during and subsequent to the first quarter, it entered into agreements to buy $38.0 billion of mortgage servicing rights...

April 26, 2018 - IMFnews

Lenders Divided on Whether Changes Should be Made to QM Standards

“It appears that the larger the investment, the larger the resentment,” Stratmor said.

April 25, 2018 - IMFnews

Short Takes: Another Milestone for Angel Oak / Going After Bayview? / Mortgage Layoffs at HomeStreet / Genworth Unveils Rate Card Reductions / A Promotion at PRMI

HomeStreet Bank, Seattle, revealed in its earnings statement this week that it chopped 86 full-time positions.

April 25, 2018 - IMFnews

Chimera Packaging Mortgages Aggregated by BofA into a Prime Jumbo MBS

Most of the loans are non-agency jumbos, but a handful are eligible for sale to Fannie Mae and Freddie Mac.

April 24, 2018 - IMFnews

Western Asset Management Preparing to Issue Non-QM MBS

Clayton Services reviewed 2,164 mortgages for the planned Arroyo Mortgage Trust MBS…

April 23, 2018 - IMFnews

Angel Oak Targets Commercial Mortgages, Will Focus on $5M and Under…

In 2017, Angel Oak affiliates originated a company record $1.1 billion of non-qualified mortgages, a 40 percent improvement from the year prior.

April 23, 2018 - IMFnews

Jumbo MBS Underwriting Holds Steady, Banks Remain Top Contributors

Some $4.23 billion of prime jumbo MBS was issued in the first quarter of 2018, the best showing since 1Q15…

April 20, 2018 - IMFnews

What We’re Hearing: A Kinder, Gentler (and Smarter) Nonprime Industry? / Varde Raises $750 Million / Don’t Layer That Risk / When the Worm Turns… / At Ocwen, Former Government Officials Bring Home the Bacon / NSM Gets a New COO

The highest paid Ocwen director last year was Phyllis Caldwell, who took home $372,649. Caldwell is a former Treasury Department official.

April 20, 2018 - IMFnews

Verus Aims to be a Significant Player in Nonprime (Non-QM)

Verus counts among its competitors Angel Oak, Caliber Home Loans, Citadel Servicing, Deephaven Mortgage and SG Capital Partners.

April 20, 2018 - IMFnews

It May be a Trying Time for Mortgages, but ABS Issuance Roars Out of the Starting Gate in Early 2018

It was the best showing for ABS since the second quarter of 2008…

April 19, 2018 - IMFnews

Short Takes: Tom Marano, Ditech’s $5 Million Man? / Ripe for a Major Disruption: The Subservicing Market? / Good News: Applications Rise / Rep. Waters Introduces FHA Bill / Ditech Gets a New COO

There are some in the industry who believe the entire subservicing sector is far behind in technology and customer service – and is ripe for a technology disruption of a major kind.

April 17, 2018 - IMFnews

Invictus to Issue a Non-Agency MBS Backed by Single-Family Rental Property Loans

The new non-agency MBS from Invictus is a bit of a rarity: the bond is backed only by mortgages on single-family rental properties.

April 17, 2018 - IMFnews

Ditech Finally Releases 4Q17 Results – A Loss and a Warning About 2018

Ditech added that under new leadership, the lender/servicer “continues to develop and execute various strategies to improve” its performance.

April 13, 2018 - IMFnews

What We’re Hearing: OMB Reviewing VA Anti-Churning Rule / MB Financial Shutters Mortgage Division: A Canary in a Coal Mine? / Put Your Seatbelt On / No Complaints From the Nonprime Sector / The Search for Dave Stevens Successor at MBA Narrows

Now comes the big question: How many more MB Financials are out there?

April 13, 2018 - IMFnews

Non-Agency MBS Issuance Down Sharply in 1Q18, but Subprime and Alt A Show Promise

During 1Q18, issuance of MBS backed by seasoned loans fell 50.8 percent…


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