Lenders originating fix-and-flip loans and mortgages for single-family investment properties are seeing strong demand from investors in the secondary market.
After years of being prohibited by regulators from acquiring servicing rights, Ocwen Financial is back in business as a buyer in full force. [Includes one data chart]
Issuance of mortgage-backed securities with non-qualified loans continues at a brisk pace, with a new deal from New Residential Investment in the pipeline.
An affiliate of Oaktree Capital Management is set to issue its first mortgage-backed security with non-qualified loans. The $268.16 million issuance includes loans from two prominent lenders who haven’t been large players in the non-QM MBS market recently.
Moody’s Investors Service has flagged risks related to non-agency players using the automated underwriting tools developed by the government-sponsored enterprises to produce loans underlying private-label mortgage-backed securities.
The representations and warranties provided on new non-agency mortgage-backed securities are receiving renewed attention from industry participants. Issuers of prime jumbo and expanded-credit MBS, particularly, have been subject to criticism.
The amount of jumbo mortgage servicing handled by the top servicers increased at a much faster rate in 2018 than the total amount of outstanding residential mortgages, according to a new ranking and analysis by Inside Nonconforming Markets. [Includes one data chart]
Lower GSE loan limit not a priority for SFIG; whole loans present alternative to non-agency MBS for investors; jumbo MBS issuance may wane with home price appreciation...
Banks originating non-agency mortgages could better compete with the government-sponsored enterprises if the threshold for appraisal exemptions in case of residential real estate properties is raised, industry participants said.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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