The average combined loan-to-value ratio on mortgages in jumbo mortgage-backed securities spiked towards the end of 2018, according to a new analysis by Inside Nonconforming Markets. [Includes two data charts]
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To better compete with banks, several prominent nonbank lenders recently launched new non-agency products, including prime jumbo mortgages and non-qualified mortgages.
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Originations of non-agency mortgages have taken a hit since the ability-to-repay rule came into effect, according to an analysis published by the Consumer Financial Protection Bureau last week.
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Wells Fargo and JPMorgan Chase are set to issue separate prime non-agency mortgage-backed securities that are significantly larger than their previous deals.
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The expansion-minded New Residential Investment Corp., New York, seems to have a thing for self-employed borrowers: Most of its recent non-agency MBS deals are stuffed with the product.
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Mortgages originated with a balance between $10.0 million and $20.0 million have surged in
recent years, according to an analysis by CoreLogic.
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The Structured Finance Industry Group names Bright as president; PennyMac offers HELOCs; Annaly ups its acquisition of expanded prime/non-qualified mortgage and seasoned residential whole loans in 2018; Angel Oak establishes a bank statement review team.
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