American Pledge Foundation, a nonprofit, has launched a sustainable homeownership program that establishes a safety-net fund equal to 5% of a home’s value for the first five years of a loan.

Non-QM lender Pacaso receives $100 million credit facility from Texas Capital; Merchants Bank is using Blue Sage Solutions’ digital lending platform for its jumbo correspondent lending program.

PennyMac, the largest correspondent lender in the industry, will begin offering non-qualified mortgages later this month. The move could be a major boost for the sector.

The impairment rate on securitized non-qualified mortgages dropped on a monthly basis in July. However, the rate was still up from a year ago.

An evolving regulatory environment under the Trump administration has created new interest in mortgages backed by cryptocurrency like Bitcoin and Ethereum.

The lawsuit alleges that PML engaged in a fraud scheme over four years that allowed it to sell loans multiple times.

American Pride Bank’s wholesale unit this week launched a non-qualified mortgage portfolio product suite.

Figure announces planned pricing for IPO; NYMT to rebrand as Adamas; Radian increases size of warehouse line.

Leaders of non-QM lenders caution that fraud is a concern with bank statement mortgages and loans underwritten based on business profit and loss statements.

Lenders that have traditionally focused on agency mortgages are boosting originations of non-QMs.