Bank of America initially acquired the mortgages through the bank’s jumbo whole loan purchase program.

In addition to re-performing mortgages, Mill City Mortgage Loan Trust 2017-1 included some home-equity lines of credit and newly originated mortgages.

Individuals with bad or no credit who are thinking about taking out a mortgage should proceed with caution if a lender has offered them a subprime loan, an official from the CFPB advised recently. In a blog posting last week, Megan Thibos, a policy analyst with the CFPB’s mortgage markets team, talked about the homebuying process for people with poor credit scores. Thibos suggested that borrowers should review their credit scores, make sure their credit reports are correct, and work to rebuild their credit. Then she detailed various mortgage options available to borrowers with poor credit, focusing on FHA mortgages. That was followed by “a warning about subprime mortgages.” Thibos said subprime mortgages have significantly higher interest rates than prime ...

The U.S. banking industry is a steady, but not a huge, supporter of the non-mortgage-ABS market, accounting for 17.4 percent of the supply of ABS outstanding at the end of 2016, according to a new call-report analysis by Inside MBS & ABS. By comparison, banks and thrifts held about 26.5 percent of MBS outstanding at yearend. Although ABS issuance since the financial crisis has dwarfed production of non-agency MBS, the market still hasn’t fully recovered. The Securities Industry and Financial Markets Association reports that total ABS outstanding – not including collateralized debt obligations – declined by 0.3 percent during the fourth quarter to $712.1 billion. That’s still well below the total outstanding at the end of 2007, $899.8 billion. Commercial banks and thrifts reported...[Includes two data tables]

The correspondent lending channel was the big winner last year in terms of increased production and market share – at least in the conventional-conforming and jumbo sectors, according to a new analysis by Inside Mortgage Trends. Competition among the three main production channels evened out in the government-insured market. Correspondent production of conventional-conforming mortgages increased...

Homeowners over the age of 65 rarely use their mortgages to access their home equity, according to a new study by the Urban Institute and Fannie Mae. Even as a large number of seniors reported concerns about finances during retirement, Fannie noted that just 6 percent of older adult homeowners are interested in tapping their home equity. Relatively few seniors use FHA reverse mortgages, closed-end seconds, home-equity lines of credit and cash-out refinances to tap built-up home equity. One reason seniors hesitate...

Clayton Holdings was the first firm to receive an assessment from rating services as a deal agent…

Yet another new jumbo MBS deal is hitting the market. This time from an affiliate of Shellpoint…

The jumbo mortgage market generally kept pace with the robust growth in first-lien originations last year, but the agency component clearly did better than the non-agency side, according to a newInside Mortgage Finance ranking and analysis. An estimated $534.57 billion of single-family mortgages with loan balances exceeding $417,000 were produced last year, an increase of 20.0 percent from 2015. That was in line with the 19.0 percent growth in total first-lien production in 2016. But the agency jumbo market – loans in high-cost markets eligible for securitization by Fannie Mae, Freddie Mac and Ginnie Mae – was...[Includes three data tables]

Commercial banks and thrifts reported a combined $123.8 billion of ABS on their balance sheets at the end of last year, a 3.7 percent drop from the third quarter…