Changes are under consideration for determining which firms qualify as community development financial institutions. Under a current proposal, CDFIs would have to follow the CFPB’s ability-to-repay underwriting requirements.
Six expanded-credit MBS started marketing within the past two weeks and there are also offerings of prime jumbos, HELOCs and even a credit-risk transfer deal from Santander Bank.
Non-agency MBS issuance perked up in early January as investor demand improved. Redwood Trust offered a jumbo MBS after a year-long lull in issuance and expanded-credit MBS issuers priced deals at tightening spreads.
The impairment rate on securitized non-QMs posted its largest one-month jump in November since the early days of the pandemic. Hurricane Ian was a factor.
Nonprime REIT Angel Oak Mortgage is redoing some of its warehouse facilities, ending one line and increasing another. The goal: to buy time in a turbulent market.
JPMorgan Chase is rolling out its first non-prime mortgage-backed security stocked solely with investment-property loans underwritten using debt service coverage ratios. Chase so far has focused on prime borrowers.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
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