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.

Fix-and-flip lending recovered in 2021 from a pandemic-led slowdown the previous year. Originations of short-term loans shot up nearly 75% on an annual basis. (Includes data chart.)

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.

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.

FoA, which has been creeping into the expanded-credit sector in recent years, including fix-and-flip loans, is looking for a new CEO. The company became a public entity roughly 15 months ago.