Turmoil in the secondary market regarding prices paid for expanded-credit loans may be feeding job cuts at Sprout Mortgage. It’s hard to say, though. The New York-based company is keeping a low profile.

FoA, which has been creeping into the expanded-credit sector in recent years, including fix-and-flip loans, is looking for a new CEO. The company became a public entity roughly 15 months ago.

The California bank joins the growing ranks of lenders offering innovative home-equity products to help borrowers counter rising interest rates.

Document automation led to an increase in non-QM lending and savings for theLender, according to a new case study by GoDocs.

Kroll Bond Rating Agency published a report focusing on mortgages originated by CDFIs and their inclusion in non-agency MBS. The Change Company defended its practices while Quontic Bank stopped offering “no ratio” loans.

Spreads on expanded-credit MBS issuance have widened significantly this year as lenders sell mortgages originated prior to the runup in interest rates. Issuance has slowed but market participants are optimistic in the long term.

Some non-agency lenders will allow for investment-property mortgages underwritten based on the income generated by the property where the monthly rent doesn’t cover expenses for the property.

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

Non-agency MBS issuance nearly frozen; Redwood raises funds with debt sale; DBRS accepts more firms for due diligence.

Participants in the non-agency market note that the loans are more difficult to underwrite than typical agency mortgages. But given that agency refi business is falling, there’s still plenty of business to be had in the non-agency space.