Maxex has aggregated more than $10 billion worth of product between its founding in 2016 and September of this year. More than $3 billion flowed through the firm’s exchange in the third quarter alone.

Originating non-QMs didn’t work out so well for Sterling Bank. After finding compliance issues, the bank ended its non-QM program and started to repurchase loans sold into MBS.

Imperial Fund, an affiliate of A&D Mortgage, issued its first non-QM MBS this week. Loans in the deal are concentrated in Florida and more than 15% went to foreign nationals or non-resident aliens.

Galton has issued more than $1.0 billion in expanded-credit MBS since the start of 2019. Western Alliance will place Galton within its warehouse lending unit.

Ocwen settles lawsuit with Florida AG; non-agency forbearance increases; non-QM MBS pipeline filling up; Angel Oak offers 40-year IO; new non-QM lender in the market.

The Financial Stability Oversight Council’s review of the secondary mortgage market focused solely on the GSEs. Bottom line: Regulators endorsed con-servative capital requirements recently unveiled by the FHFA.

More than $40 billion of jumbos originated in 2019 were non-QMs because they had DTI ratios greater than 43%. Many of the loans would be QMs if they were originated under the CFPB’s proposed QM standards. (Includes data chart.)

While lenders like the CFPB’s proposal to provide QM status to certain non-QMs if the loans perform well for the first three years after origination, con-sumer advocates warned of reduced protections for borrowers.

State regulators propose capital requirements for nonbank servicers; non-agency forbearance increases; Verus launches jumbo program; Angel Oak al-lows 90% LTV ratios on bank statement loans; PCMA expands into Florida; Home Diversification Corp. looking to launch second lien.

The CFPB’s proposal could drastically reduce the number of non-QMs originated while helping the non-agency market compete with the GSEs. Industry groups and consumer advocates endorse the tradeoff.