Guide to the Non-Agency Market: Position Yourself for the Impending Revival

The non-agency market is inherently defined by what it is not: mortgages originated for Fannie Mae, Freddie Mac, FHA or VA, or “agency” loans. The sector is essentially mortgages held in portfolio and loans securitized by non-government-related firms.

In 2006 agency loans accounted for 35.9 percent of total mortgage originations; in more recent years the government share of originations has soared to more than 90.0 percent. However, it is widely believed in government and industry that the non-agency market and private capital must have a much larger role in housing finance.

Non-agency jumbo securitizations have significantly increased in 2012. This new report from Inside Mortgage Finance profiles a number of jumbo lenders holding portfolio loans as well as those involved with non-agency securitization. You’ll find major players profiled, including real estate investment trusts, rating services and lenders. The market’s concerns about impending regulations are examined.

Find opportunities and profits with data charts and market intelligence on the business of major players as well as others that are active in the market now. The Guide to the Non-Agency Market includes:

  • Business activity of major players
  • Data charts on the sector
  • Smaller lenders doing jumbo loans
  • Subprime issuance
  • Portfolio lending
  • Non-agency MBS
  • Expected impact of higher FHA limits
  • Loan performance
  • Servicing concerns
  • Loan limits, qualified residential mortgages
  • Regulation and litigation, and more
Price with shipping in U.S. - $367.00
Price with shipping elsewhere - $417.00

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What is it going to take to convince lenders to loosen the credit box (i.e., remove underwriting overlays)?

The recent rep and warranty changes announced by the Federal Housing Finance Agency should go a long way in protecting lenders from future buybacks and help expand mortgage credit.
There won’t be any significant elimination of underwriting overlays until the government stops seeking huge mortgage-related penalties and settlements from lenders.
There shouldn’t be any expansion of the mortgage credit box since looser underwriting is what caused the recent mortgage crisis.

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