Angel Oak Companies was the top supplier of expanded-credit mortgages securitized in 2020. Across the industry, volume was down in the fourth quarter and for the full year. (Includes three data charts.) Read More
Wells Fargo is once again buying jumbo mortgages from correspondents. Meanwhile, newly minted public company United Wholesale is set to resume originating the product through brokers. Read More
The CFPB’s acting director has asked bureau officials to explore options to maintain the status quo on QM standards with less than a month left before the new rule takes effect.
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Originations of non-QMs tend to be more heavily weighted toward purchase mortgages than the broader mortgage origination market. Lenders are working to advise loan originators on the unique product offerings in the sector. Read More
The non-agency residential lending unit and business purpose lending arm are projected to earn returns greater than 20% this year. Still, Redwood took a large loss in 2020 due to volatility from the coronavirus. Read More
Sterling Bank and Trust reached a settlement over faulty disclosures on the bank’s now shuttered non-QM program. The bank has upped reserves for further potential losses stemming from repurchases and loan sales. Read More
Shellpoint processed more than 25% of the dollar volume of non-agency MBS issued in 2020. Servicers continue to grapple with elevated delinquencies, forbearance and concerns about disclosures. (Includes data chart.) Read More
Non-agency forbearance declines; Pacific Western Bank acquires Civic Financial Services; Velocity inks new financing; Angel Oak Commercial Lending set for growth. Read More