The impairment rate on securitized non-QMs posted its largest one-month jump in November since the early days of the pandemic. Hurricane Ian was a factor.

Even though the non-QM sector is seeing volumes slow, some lenders are still hiring...

Impac's share price is down to 15 cents.

The 8-K suggests the deal buys Angel Oak more time as it copes with a turbulent market.

A spokesman for the REIT said that for the time being there are no plans to sell any whole loans...

Demand for non-QMs in the secondary market remains weak. Investors are concerned about the prepayment profile of the loans, among other issues.

Annaly was the top issuer of non-agency MBS in the third quarter. The REIT had to retain more of its issuance than usual due to weak investor demand.

Non-QM impairment rate increases in September; Angel Oak launches ETF with focus on non-agency MBS investments; new correspondent lender focusing on non-QMs; Go Mortgage offers non-QM construction loan.

Debt service coverage ratio loans for investment properties are starting to look more risky as the Fed works to address inflation. Still, activity in the sector is increasing.

Sterling Bank and Trust paid $6 million to settle charges from the OCC regarding a now-shuttered non-QM program. Investigations by the DOJ and SEC are ongoing.