ARDRI appoints new vice president of wholesale production; delinquencies on closed-end second liens rising; New York Mortgage Trust raises capital.

Retail lending among lenders in the analysis declined sharply during the first quarter while the correspondent and broker channels posted more modest declines in nonconforming production. (Includes two data tables.)

Delinquencies on securitized non-qualified mortgages have increased but MBS investors have largely avoided losses to this point thanks to structural protections and improved underwriting.

ARMs accounted for 12.1% of total residential mortgage originations in the first quarter of 2025, down more than a full percentage point compared with the previous quarter. Still, production of the loans was up from the first quarter of 2024. (Includes data table.)

Non-qualified mortgages require extensive manual processes, but technology is now helping streamline originations.

eResi integrated with Intercontinental Exchange’s Encompass Investor Connect platform, looking to deliver non-qualified mortgages to investors.

In the luxury home space, 31% of repeat buyers are using cash, keeping all-cash purchases strong. Also, younger buyers who fit into the move-up buyer category are beginning to flood the luxury market.

The digital lending platform is expanding one year after its founding.

Impairment rate on securitized non-QMs rises in May; Rocket offering bridge loans; architecture firm to acquire non-QM lender; Chimera unit aggregating HEIs for securitization.

Leaders in the non-qualified mortgage space see promise in artificial intelligence, ample liquidity and the need for better marketing.