Non-agency market participants have concerns about lender’s choice, but also expect modern credit scoring models to improve visibility into borrower credit behavior.
A recent rise in self-employed individuals is helping drive increased demand for non-QM products such as bank statement loans, according to lenders who recently spoke with Inside Nonconforming Markets.
CrossCountry Mortgage and Rocket Mortgage raised the loan limit they'll accept for conforming mortgages by 1.5% ahead of an anticipated increase in conforming loan limits in the new year.
The GSEs will disclose scores from FICO and VantageScore for their mortgage-backed securities, credit risk transfer transactions and other securitization activity.
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