SPS, inherited by UBS when it purchased Credit Suisse in June, has been placed into a “bad bank,” sources indicate.

Some industry stakeholders are portraying the proposed capital requirements on mortgage assets as an existential threat, one that might indirectly hurt independent nonbanks. But perhaps those fears are overblown.

The odds appear long but CEO/founder Vishal Garg told employees the magic moment will happen by the end of the month.

CEO Frank Martell warned loanDepot will continue to “aggressively” reduce costs, a likely nod to additional layoffs.

AFR's CEO is Richard Dubnoff, its founder Corey Dubnoff...

Only 18% of consumers believe now is a good time to buy a home...

Prices for non-QMs sold as whole loans are down a bit while spreads on MBS are declining, indicating increasing demand.

Investors are getting pickier on what they’re willing to pay for non-QM paper, at least compared to earlier in the year. Meanwhile, Acra Lending is once again toying with the idea of issuing its own MBS.

For years, banks have been dominant players in the non-agency jumbo space. One strategy: Originate a loan, place it in portfolio and earn a spread. But thanks to rising rates and increased regulatory scrutiny, the economics aren’t as attractive.

Look for Wells Fargo to offer more of its holdings while other shops, bank and nonbank alike, contemplate their futures.