Moon Mortgage plans to offer loans with underwriting based on crypto holdings. Both purchase mortgages and investment-property loans are planned, with borrowers needing to post 100% of collateral.

Angel Oak Companies is grappling with weak demand for non-QMs. One of the firm’s lending units laid off about 20% of its staff last week and Angel Oak’s REIT unexpectedly replaced its CEO this week.

The mortgage exchange will now facilitate originations and sales of various types of non-QMs, with “some of the industry’s most generous guidelines” for the products.

After aggregating mortgages from some of the largest players in the non-agency market, Pacific Western Bank is looking to sell risk on the loans that have a total unpaid principal balance of $2.68 billion.

Non-QM impairments decline after two-month increase; Balbec unit offers non-QM MBS with loans from Sprout; new CIO at Redwood; Velocity quickly packages business-purpose loans.

Spreads had steadily widened in the expanded-credit sector between February and July. But as spreads declined in August, demand for expanded-credit MBS appears to have improved.

Newfi is offering a non-QM where the interest rate incrementally steps up annually for five years then remains fixed. Meanwhile, Milo launched a cash-out crypto mortgage, where borrowers pledge cryptocurrency in exchange for a loan as large as $5.0 million.

Securitization from Unlock and Saluda Grade with home-equity agreements; NewRez offers 40-year mortgages with interest-only option; Fitch to acquire dv01; DBRS adds Clarifii to its list of due diligence providers.

Less-capitalized non-QM lenders struggled amid weak demand for the loans in the secondary market. Some firms are looking to take advantage of that weakness.

Non-QM lenders are regaining their footing as volatility in the secondary market recedes. And many potential non-QM borrowers are comfortable paying relatively high interest rates, helping to boost originations.