A new IRS private letter ruling outlined a case where exchange bond certificates from a REMIC or grantor trust would be considered a stripped bond under tax policy.

A mortgage borrower lost an appeal of a district court decision that he lied to a servicer and to the FDIC about the amount of debt he owed.

Expanded-credit MBS volume was down 27.2% on an annual basis and prime volume fell by 62.9%.

The non-QM market will see outsized growth in 2024, according to industry participants.

A decline in expanded-credit MBS activity led to an overall drop in non-agency MBS issuance in the fourth quarter of 2023, while prime non-agency MBS rebounded to close out the year.

Non-QM lenders forecast growing origination volumes and a need for more staff to handle increased production.

Delinquencies on non-qualified mortgages spiked in November, adding to a “worrying” trend, according to dv01.

NewFi Lending is touting its EquityChoice product as one of the first new mortgage products to hit the market in more than 30 years.

William Erbey, the founder of Ocwen Financial, was selected as CEO of Altisource Asset Management. Erbey owns nearly 50% of AAM.

New legislation that would make it easier for workers in the legal cannabis industry to receive mortgage financing is unlikely to pass the Senate in 2024.