Two prominent non-QM lenders ceased operations in the past two weeks amid weak demand for the loans. Still, other market participants are stressing that they remain in strong operating positions.

Shortly after lenders adjusted to QM standards set in December 2020, the CFPB is initiating a review of the standards. Significant changes appear unlikely, though the seasoned QM option could be eliminated.

Western Alliance Bank sold first-loss exposure on a pool of mortgages with an unpaid principal balance of $3.88 billion. The mortgages were acquired from various correspondent sellers and include many non-agency jumbos.

Lagging data aggregated from counties provides some new insight into trends in jumbo originations in the first quarter of 2022.

PRP Advisors issued its first non-agency MBS with newly originated mortgages for investment properties. To this point, Balbec’s non-agency MBS issuance has focused on seasoned mortgages.

Redwood released a report with various ESG disclosures, addressing certain topics set by the Sustainability Accounting Standards Board.

Non-QM impairments decline in May; SFA assessing TRID review scope; new hire at Angel Oak; New Residential rebrands as Rithm Capital.

Are secondary market non-QM buyers getting choosier about the paper they buy in a rising interest rate environment? In some cases, the answer is yes. Then again, who can blame them.

Bank and thrift holdings of first-lien mortgages increased in the first quarter of 2022. Meanwhile, Wells Fargo and JPMorgan trimmed their portfolios. (Includes data chart.)

Turmoil in the secondary market regarding prices paid for expanded-credit loans may be feeding job cuts at Sprout Mortgage. It’s hard to say, though. The New York-based company is keeping a low profile.