Impairments, which reflect delinquencies and modifications, increased on securitized non-QMs for a second consecutive month. In July, the performance of severely distressed borrowers also worsened.

Among the top 15 servicers of nonprime mortgages, portfolios increased slightly in the second quarter. Delinquencies, meanwhile, improved. (Includes data chart.)

Among the top 30 jumbo servicers, portfolios increased during the second quarter. Servicing declined at top-ranked Wells and increased at nearly all others in the top 10. (Includes data chart.)

Non-QM impairments decline in May; SFA assessing TRID review scope; new hire at Angel Oak; New Residential rebrands as Rithm Capital.

After more than a year of steady declines in delinquencies on securitized non-QMs, delinquency rates have fluctuated in recent months.

Originations of expanded-credit mortgages helped to boost nonprime servicing portfolios in the first quarter of 2022. (Includes data chart.)

Altisource setting up alternative lending operations; Reverse Mortgage Funding offers non-agency MBS with proprietary reverse mortgages; Dovenmuehle assessed as “above average” by Moody’s.

Trends varied among the largest servicers of jumbo mortgages in the first quarter. Portfolios increased overall while the top two jumbo servicers reduced their portfolios. (Includes data chart.)

While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)

A look at the performance of investment-property loans reveals some differences between GSE-eligible loans and non-agency mortgages. Performance also differed from owner-occupied prime jumbos and non-QMs.