The correspondent channel expanded its share of jumbo originations in 2018, according to an Inside Nonconforming Markets analysis of survey responses to affiliated Inside Mortgage Finance. [Includes one data chart.]
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The two-day hearing this week on an outline for housing-finance reform offered participants in the non-agency market an opportunity to call for legislative reform in the sector.
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Banks and thrifts increased their holdings of first-lien residential mortgages in 2018, according to a new analysis by Inside Nonconforming Markets. [Includes one data chart.]
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Industry participants are increasingly calling for the qualified mortgage “patch” to be addressed as part of broader efforts to overhaul the nation’s housing-finance sector.
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Goldman Sachs is set to issue a non-agency mortgage-backed security stacked with jumbo loans eligible for sale to the government-sponsored enterprises. The deal will mark the bank’s return to the prime non-agency MBS market. The deal size is $230.60 million, according to presale reports published last week by DBRS and Moody’s Investors Service.
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Redwood Trust is developing an outlet for mortgages that differ somewhat from traditional whole-loan sales. Officials at the real estate in-vestment trust have been working on the effort for months but haven’t formalized anything yet.
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Verus Mortgage Capital and Chimera Investment Corp. are both set to issue non-agency mortgage-backed securities backed solely by loans for investment properties. The types of mortgages in the two deals differ. Loans in the Chimera MBS were eligible for delivery to the government-sponsored enterprises, but that was not the case with the Verus deal.
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Four more expanded-credit mortgage-backed securities are set for pricing before the end of the first quarter, along with a prime non-agency MBS.
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LendingHome recently issued a $219 million asset-backed security with fix-and-flip loans originated by the firm; Reliant Bancorp, Brentwood, TN, launched a correspondent purchase program for non-qualified mortgages in March; Angel Oak Mortgage Solutions expanded its office space in Dallas and Atlanta.
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