Investors are looking for consistency from non-QM lenders as concerns about expanding credit boxes mount.

Demographic shifts mean demand is falling. Meanwhile supply is increasing, raising the potential for falling home prices and fewer originations.

Figure expects to benefit from acquiring technology as well as business-purpose loan production.

Although the growth curve flattened a bit in 2025, production of loans with terms of two years or less increased by 15% last year. (Includes one data table.)

Production of adjustable-rate mortgages in the first quarter of 2026 totaled $79.00 billion, down 16.0% from the fourth quarter of 2025. (Includes one data table.)

President Trump’s recent executive order targeting lending to immigrants could change lenders’ practices when lending to borrowers using individual taxpayer identification numbers.

Fitch Ratings has concerns about new products in the debt service coverage ratio and cryptocurrency spaces.

Button Finance makes three hires; Logan Finance appoints Western managing director of sales; AD Mortgage launches non-QM offerings for prime borrowers; Insula Capital Group introduces portfolio-level debt service coverage ratio financing; Land Gorilla launches AI-powered due diligence solution; Hometap offering two-tier pricing structure for home equity investments.

Urban Institute researchers say the mortgage industry will experience slightly better capital treatment as a result of the changes to the Basel III Endgame, but they recommend some improvements.

Trade groups expressed concern that proposed changes to Rule 15c2-11 of the Securities Exchange Act could accidentally ensnare ABS.