Strong application volume for non-QMs at PCMA; increased funding for investment-property mortgages; CFPB exempts smaller depository institutions from escrow requirements for higher-priced mortgages.

The REIT set a company record for locked jumbo business in the third quarter and then went on to break it in the fourth quarter. Redwood is focusing on prime jumbos as its expanded-credit lending has stalled.

The fintech upstart aims to issue a jumbo MBS during the first quarter of 2021 using blockchain technology. Mike Cagney’s shop also has applied for a bank charter.

Non-agency lenders will no longer have to look to stringent underwriting requirements set by the CFPB, which will likely shift some non-QM lending in-to the QM sector.

Citadel rebrands as Acra Lending; minimal non-agency MBS downgrades following review by Fitch; non-QM impairments decline; non-agency forbearance down slightly.

The mortgage market was expected to be ready to take on the 43% DTI ratio limit for qualified mortgages by 2021. However, it didn’t work out that way.

ARM originations declined 12.5% in the third quarter. Still, production was up 18.8% during the first nine months of the year.

Facing criticism that the new qualified-mortgage standards could sharply reduce ARM originations, the CFPB said lenders did not provide convincing data during the comment period.

A pilot program launched this year aimed at originating mortgages with balances of less than $100,000 has generated zero loans to this point. Reason: Interest rates on the loans look high.