Short Takes: Leveraging Cash for Non-QM Lending / AO’s REIT Trading in a Tight Range / Eye on Rates / Robust MSRs / Alterra Gets a New President August 26, 2021 Paul Muolo and Brandon Ivey Non-QM lender Angel Oak is looking to crank up originations...Read More
Due Diligence Backlog Prompts Unusual Delay for New MBS August 23, 2021 Brandon Ivey Third-party due diligence reviewers are swamped.Read More
Goldman Joins the Non-Agency Investment-Property Party August 20, 2021 Brandon Ivey The issuance is the first of the year from Goldman with GSE-eligible mortgages for investment properties.Read More
Non-Agency Lending Jumps in 2Q, Agency Production Declines August 19, 2021 John Bancroft Production of jumbos and expanded-credit mortgages spiked while agency lending deflated.Read More
Annaly Expands Non-Agency Acquisitions with Launch of Conduit August 18, 2021 Brandon Ivey Previously, Annaly was predominantly sourcing non-QMs from aggregators rather than directly from lenders. Read More
Bayview, Morgan Stanley Offer Separate Non-Agency MBS August 17, 2021 Brandon Ivey The top contributor to both MBS is CrossCountry Mortgage.Read More
Short Takes: Abandonment Rate Up on Forbearance Calls / CFPB is Watching / NYCB Invests in Figure / Sachem’s Income Increases August 17, 2021 Brandon Ivey The abandonment rate on calls to servicers jumped to 5.0% from 3.6% the week prior...Read More
Angel Oak’s REIT Posts Lower Income in Second Quarter August 13, 2021 Brandon Ivey While Angel Oak issued a non-QM MBS during the second quarter, the REIT didn't participate in the securitization.Read More
Short Takes: Pipeline Protection? The GSEs? / A Wholesale Issue / Phoenix Capital Offers Bulk MSRs / A Loss for Impac August 13, 2021 Paul Muolo, Brandon Ivey, and Dennis Hollier JMP said it sounds like “these actions” by the GSEs “primarily targeted nonbank wholesale channel lenders, of which UWM [United Wholesale Mortgage] and HMPT are among the largest.”Read More
New Residential Joins the IPL MBS Bandwagon August 12, 2021 Brandon Ivey The bulk of the loans in the MBS were originated by New Residential's own lending unit, along with some from Caliber...Read More
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