The end of the QM patch — thanks to a maneuver by the FHFA and Treasury — could help the non-agency market compete with the GSEs.

Can the rampage of nonbanks in the primary mortgage market drive securitization rates higher for jumbo mortgages? (Includes data chart.)

Jumbo mortgage originations were up in 2020 but most production remained on the lenders' books. Direct sales of conventional loans to non-agency securitizers also fell. (Includes data chart.)

The U.S. Development Finance Corp. is guaranteeing an offering of securities backed by Ecuadorian mortgage loans. Huh?

New deals from Flagstar Bank and Redwood Trust demonstrate how quickly issuers are stocking prime non-agency MBS with new originations.

Based on activity over the past year, mortgage IPOs can sometimes underwhelm. Angel Oak’s was no exception but investors in the common shares are betting on non-QM lending taking off in the years ahead.

After months of sporadic issuance of MBS with newer non-QMs, five deals are in the market with fresh production. PIMCO is also selling off some older loans originated by Citadel Servicing.

Stakeholders believe an alignment will ensure the most competitive mortgage terms are accessible to the broadest segment of QM-eligible borrowers while continuing to promote safe and sound lending practices.

Two securitizations brought to the market in May were stocked with recently originated non-qualified mortgages as issuers continue to plow their way through the remainder of the pandemic.

Not since the go-go days of the mid 2000s has a national subprime REIT pulled off an IPO. If Angel Oak’s offering goes well, might the floodgates open? Wall Street can only hope.