Morningstar has positive outlook for Acra; PRMG adopts FICO Score 10 T for non-QM underwriting; SG Capital Partners updates guidelines.

Originations of higher-priced loans, a proxy for subprime mortgages, declined in 2023 but held up better than total originations. (Includes two data tables.)

New York Mortgage Trust acquired $302.0 million of business-purpose loans in the first quarter, a 30% increase from the prior period.

The real estate investment trust originates non-qualified mortgage, home equity and agency loans through its NewRez unit, and funds residential transition loans through its Genesis Capital affiliate.

Carrington hires Winokur; Newfi expands EquityChoice product to new states; Loanstream offers special pricing for non-QMs.

Better joins a number of other nonbanks offering home equity loans as traditional refinance business is slow.

CMS launches ITIN product; Liberty Home Mortgage to start using FICO Score 10 T for nonconforming loans.

Credit standards for jumbo mortgages loosened in March. The changes came as home prices continue to increase.

Verus Mortgage Capital has grown its non-agency MBS issuance as more investors show interest in the expanded-credit mortgage market.

Higher interest rates and tighter lending standards led to a decline in income at the business-purpose lender.