Investment-property loans gained share in expanded-credit MBS issuance and many of the typical contributors to deals were absent in the fourth quarter. (Includes three data charts.)
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Conforming jumbos took the biggest hit in the fourth quarter as the volume of business Fannie Mae and Freddie Mac conduct in various noncore categories decreased.
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Changes are under consideration for determining which firms qualify as community development financial institutions. Under a current proposal, CDFIs would have to follow the CFPB’s ability-to-repay underwriting requirements.
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Six expanded-credit MBS started marketing within the past two weeks and there are also offerings of prime jumbos, HELOCs and even a credit-risk transfer deal from Santander Bank.
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With potential first-time homebuyers facing affordability issues, some homes that would have been flipped are now being offered for rent, shifting financing strategies for borrowers.
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There’s a new program focused solely on a borrower’s business bank statement and a second-lien offering where non-QM borrowers can take cash out without refinancing.
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Delinquencies on non-QMs increase again; Altisource hires COO for non-agency effort; DBRS adds Verity Global Solutions as an acceptable due-diligence provider.
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