JPM Packages Jumbos with Relatively High LTV Ratios in Unique MBS November 15, 2018 Brandon Ivey Moody’s Investors Service said 47.0 percent of the dollar volume of the loans in the MBS were underwritten by United Shore…Read More
A Brighter Future for Non-Agency May Translate Into Better Days for Trading Desks November 14, 2018 Paul Muolo Another trading firm that hopes to ride the non-QM wave is RAMS Mortgage Capital…Read More
Ellington Will Convert to a REIT, Focusing on Credit Investments and Agency MBS November 12, 2018 Brandon Ivey Ellington CEO Laurence Penn: “Becoming a REIT would bring with it big benefits, such as lower effective tax rates..." Read More
Most Products Saw a Decline in 3Q18, but Expanded-Credit Loans Bucked the Trend November 8, 2018 John Bancroft A few mainstream lenders are starting to take notice, but most of the action is at a handful of nonbanks that have spearheaded the sector’s rise…Read More
Mr. Cooper Reports $54 Million Profit for 3Q18, Agrees to Buy $10B Originator November 8, 2018 Paul Muolo Several months ago, rumors began to surface that Pacific Union might be for sale...Read More
Redwood Accelerates Diversification Efforts, Remains Profitable in Third Quarter November 8, 2018 Brandon Ivey Redwood CEO Chris Abate: “Our game plan in the third quarter was a bit unconventional – we ran an up-tempo offense, squarely in the face of mortgage market headwinds.”Read More
Impac Suffers Another Loss. Revenue and Originations Take a Hit. Layoffs Too November 8, 2018 Paul Muolo About 41 percent of Impac's volume now entails non-QM lending...Read More
Short Takes: A Sale Agreement but What’s the Price, Mr. Cooper? / A Material Event? / UBS Expects DOJ Action / Ellington’s New Non-QM MBS / A New Hire for Home Point November 8, 2018 Brandon Ivey and Paul Muolo UBS said the Department of Justice intends to file a civil complaint against the company relating to pre-crisis MBS issuance...Read More
QM Patch Expiration Could Shift More High-DTI Loans to FHA November 7, 2018 George Brooks Analysts see the expiration of the QM patch as having a lesser effect on the non-agency market and a greater impact on FHA...Read More
Expanded-Credit MBS Underwriting Not Loosening Much, Prepayments Remain High November 7, 2018 Brandon Ivey Risk layering remains uncommon on the new breed of expanded-credit mortgages…Read More
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