Expanded-credit MBS issuance increased by more than 75% in the first quarter of 2023. Invictus Capital Partners was the top issuer in the early months. (Includes three data charts.)
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While real estate lending might not feel the brunt of a possible credit squeeze, products like jumbo mortgages could still face challenges. There are signs that banks have reduced their appetite for the loans.
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Conforming jumbos, cash-out refinances and mortgages for investment properties and second homes are becoming less prevalent in deliveries to the government-sponsored enterprises. (Includes data chart.)
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Bank statement, debt servicing credit ratio and home-equity line of credit products are bringing new value to originators, according to LoanNEX.
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The volatility in interest rates, elevated housing prices and a lag in rental growth numbers are all prompting more investors to lock in loans with debt service coverage ratios below 1.0.
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CPFB revises methodology for APOR; Fitch downgrades PacWest’s CRT; LendingOne taps ex-Sprout vice president for TPO business; DBRS adds new due diligence provider to “acceptable” list.
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