Rising interest rates and financial volatility battered the non-QM market in 2022. This year almost has to be better by default, according to industry participants.

Redwood suggested Wells Fargo's exit from the correspondent channel won't boost the REIT's fortunes in the near term.

The DOJ continues to investigate issues involving a non-QM program Sterling Bank & Trust ended in 2019. Fallout from the program continues to cut into the bank’s profitability.

Most of the non-agency MBS on offer within the past two weeks was stocked with mortgages for investment properties.

HomeXpress preps its first non-agency MBS; A&D loosens non-QM guidelines; bridge loan partnership; FoA revises second-lien reverse mortgage product.

First Republic Bank is working to increase its share of jumbo originations, using a combination of customer service and low interest rates.

Conforming jumbos took the biggest hit in the fourth quarter as the volume of business Fannie Mae and Freddie Mac conduct in various noncore categories decreased.

Changes are under consideration for determining which firms qualify as community development financial institutions. Under a current proposal, CDFIs would have to follow the CFPB’s ability-to-repay underwriting requirements.

Six expanded-credit MBS started marketing within the past two weeks and there are also offerings of prime jumbos, HELOCs and even a credit-risk transfer deal from Santander Bank.

With potential first-time homebuyers facing affordability issues, some homes that would have been flipped are now being offered for rent, shifting financing strategies for borrowers.