Certain non-QM lenders’ underwriting tactics might not meet the CFPB’s ability-to-repay rule, according to Moody’s. It suggested tighter standards for bank statement mortgages and loans to the self-employed.
While 12 firms are deemed as acceptable by Fitch Ratings to review loans in MBS rated by the agency, two firms, SitusAMC and Clayton, handled nearly all reviews in recent years.
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