Non-agency lenders are waiting for a decision from the CFPB on standards for qualified mortgages. The CFPB wants to extend the QM patch, though the Trump administration threw a wrench in that plan.

Mortgage originations declined by 11% in the first quarter at First Republic while Redwood increased its lock volume by 21% from the fourth quarter.

An effort by the CFPB to delay the end of the QM patch is causing uncertainty for non-agency lenders. A coalition of lenders and consumer advocates said the CFPB shouldn’t move forward with the proposal.

AIG is set to issue a jumbo MBS with new production and MFA Financial has a non-QM deal with loans that have seasoned for 16 months. A surge of issuance also looks likely later this month.

The retail channel accounted for nearly 90% of jumbo mortgage originations last year. The channel gained share from both correspondents and brokers. (Includes data chart.)

Some lenders are originating jumbos under new QM standards that don’t require them to meet Appendix Q of the ATR rule.

Six prime non-agency MBS with newer loans have hit the market along with two expanded-credit deals with older mortgages.

Provident drops jumbos from warehouse securitization; The Change Company hires former Angelo Gordon MD; FoAM wins bid for Benji.

Lenders can use the QM standards drafted in the waning days of the Trump administration. But there’s no certainty new leadership at the CFPB will leave them as they are.

The real estate investment trust launched a new program to quickly close loan acquisitions — at times faster than the GSEs.