First Republic Bank increased its originations by 15.8% in the third quarter and Flagstar Bank posted a 33.3% increase in jumbo lending compared to 2Q20.

New Residential ranked sixth among expanded-credit originators in 2019. The lender has been slower than other major players to restart non-QM lending due to a surge in agency refi business.

Western Alliance plans to offer warehouse lines of credit to lenders that work with Galton then retain some of the lenders’ originations.

Redwood locked $2.1 billion of jumbos during the third quarter though it only acquired $176 million. The REIT is issuing MBS and selling loans to banks.

Prepayment rates on prime non-agency MBS inched above 40% in September compared to roughly 25% at the beginning of the year.

For the first time since 2013, rates on jumbos have moved above those on GSE loans. The reason: the Federal Reserve’s massive purchase of agency MBS.

Some $1.64 billion of expanded-credit MBS and $1.06 billion of prime non-agency MBS hit the market in the past two weeks. The expanded-credit deals were stocked with older loans.

CFPB officially extends QM patch; forbearance rate for non-agency mortgages increases; virtual forum on non-QMs.

Maxex has aggregated more than $10 billion worth of product between its founding in 2016 and September of this year. More than $3 billion flowed through the firm’s exchange in the third quarter alone.

Originating non-QMs didn’t work out so well for Sterling Bank. After finding compliance issues, the bank ended its non-QM program and started to repurchase loans sold into MBS.