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Volume 2018 - Number 3

February 9, 2018

Downloads Available: Expanded-Credit Mortgage Characteristics: 1Q16-4Q17

Strong Performance for Non-QMs in MBS

The delinquency rate on non-qualified mortgages in mortgage-backed securities remains low, as issuers are largely avoiding risk-layering. As of the end of 2017, the average current-to-delinquent roll rate for non-QMs in MBS seasoned for one year was 0.4 percent, according to Bank of America Merrill Lynch. Only three non-QM loans tracked by CoreLogic have liquidated so far, and none realized a loss. Non-QM MBS have thicker credit enhancement than ... [Includes one data chart]

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Do mortgage lenders really need a new credit-scoring model or is the current FICO system adequate?

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Time for a change. Borrowers are different today.


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