The share of mortgages for investment properties in expanded-credit MBS increased during the third quarter along with average credit scores. The age of loans going into securitized deals is also rising. (Includes three data charts.)

Originating non-QMs didn’t work out so well for Sterling Bank. After finding compliance issues, the bank ended its non-QM program and started to repurchase loans sold into MBS.

Imperial Fund, an affiliate of A&D Mortgage, issued its first non-QM MBS this week. Loans in the deal are concentrated in Florida and more than 15% went to foreign nationals or non-resident aliens.