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.

Players in the non-QM market believe the sector is lacking in awareness and education.

Short-term mortgages track residential transition loans and fix-and-flip loans. Last year, originations were up 34.6% compared with 2023. (Includes data table.)

Industry attorneys stress that there are steps mortgage lenders can take to avoid running into legal issues with originating business-purpose loans.

The Seattle-based mortgage fintech has issued a $150 million securitization backed by residential transition loans and launched an artificial intelligence-powered data suite.

Technology is helping servicers overcome the complexities caused by lack of standardization among non-QM practices.

ARDRI appoints Christine Lacy as vice president of wholesale production; Dominion Financial Wholesale appoints William Fisher as director of wholesale sales; new wholesale mortgage banking platform launches; ResiCentral launches expanded non-qualified mortgage product suite; Beeline Holdings rolls out home equity access product; Guild Mortgage adopts FICO Score 10 T; Chimera Investment to acquire HomeXpress Mortgage.