Non-QM investors prefer disciplined originators, instead of lenders who scale quickly even if it causes additional risk.

Rocket Companies is marketing a $706.0 million securitization of closed-end second liens.

Loans with balances above the baseline conforming loan limit accounted for 16.4% of total originations in the first quarter of 2026.

The planned $1.02 billion deal is the largest offering in the sector thus far this year and one of the largest since the establishment of non-qualified mortgages.

“The flatter yield curve is burning a hole in a lot of people’s pockets,” sai Alan Qureshi, president of Black Lake Investments.

“Two-thirds of mortgage holders compared quotes from multiple lenders during their most recent mortgage-shopping process, but only 54% attempted to negotiate,” according to LendingTree.

Spring EQ is a longtime player in the home equity loan market, but the firm is rarely the sole contributor to a securitization.

Kiavi originated more than $7.0 billion of loans in 2025, with a focus on short-term residential transition loans along with mortgages underwritten using debt service coverage ratios.

Lenders denied 12.1% of applications for jumbo mortgages in 2025.

Deal sizes have increased with each issuance, growing from $234.5 million for the first deal from Figure, in August, to $373.3 million with the new issuance.