This year is expected to be the biggest year yet for non-QM lending and securitizations, according to industry participants.

The denial rate on applications for jumbo refinances dropped to 22.2% in 2024 from 25.4% in the year earlier, while only 10.3% of jumbo purchase-mortgage applications were turned down. (Includes data table.)

Federal entities should take steps to boost the non-agency market, according to the MBA. Meanwhile, FHFA isn’t necessarily looking to shrink the GSEs’ footprint.

As the housing shortage persists, home equity has been increasing, creating opportunities for lenders.

The changes include the availability of written verification of employment, a reduced account statement requirement and a lowered business fund ownership threshold.

In the coming weeks, Provident and JPMorgan Chase are both set to issue prime non-agency MBS.

Acra searches for new CEO; Rocket Companies upsizes securitization; House approves bill that would remove qualified mortgage underwriting requirements for small banks; prepayment rates on non-QMs increase; Longbridge Financial launches home equity product.

Angel Oak Mortgage REIT securitized $284.3 million after the first quarter of the year ended.

Correspondent sales of jumbo mortgages originated in 2024 increased by more than 60% on an annual basis. The largest sellers were almost all nonbanks, though Chase cracked the top 5 with its deliveries into non-agency MBS. (Includes data table.)

American Pride Bank in Georgia launched a new mortgage division last week focused on non-QM products.