Freddie CEO Don Layton: "People tell me, ‘Well, let’s have a common AUS that everyone can use.’ My only data point on that is that to have a common system on the backend for the security (UMBS) took seven years and $2 billion to build…”
Angelo Gordon is set to include Community Development Financial Institution loans in its first non-QM MBS, prompting lower risk-retention requirements.
Nearly 70% of the volume going to the GSEs due to the QM patch could be handled in the non-agency market without disrupting borrowers, according to a new SEC filing and presentation from Redwood.