Production of jumbos increased by nearly 50% in 2019. The increase was proportional to broader trends in the mortgage market, but the sector didn’t keep pace in the fourth quarter. (Includes data chart.) Read More
CFPB Director Kathy Kraninger says the relatively small size of the non-qualified-mortgage market is one of the reasons the bureau plans to change QM standards. Read More
Congress is unlikely to increase the g-fee charged by the GSEs, though the FHFA may as part of efforts to “level the playing field” between the GSEs and the non-agency market. Read More
Certain non-QM lenders’ underwriting tactics might not meet the CFPB’s ability-to-repay rule, according to Moody’s. It suggested tighter standards for bank statement mortgages and loans to the self-employed. Read More
Annaly Capital Management and Ellington Financial are both generating double-digit returns from aggregating mortgages and issuing non-agency MBS. The firms plan to increase their activity in the sector. Read More
Issuance of non-agency MBS backed by prime mortgages offers better returns than aggregating non-QMs, according to officials at Chimera Investment. Read More
Presale reports for 13 non-agency MBS were published in the past two weeks as issuers sought to get deals into the market ahead of the Structured Finance Association’s annual conference.
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SEC to meet MBS issuers; HPS acquires Citadel; Anworth plans non-QM MBS; Quontic streamlines non-QM refis; Ocwen takes a loss on servicing for New Residential. Read More