Issuance of expanded-credit mortgage-backed securities hit $5.97 billion in the first quarter of 2019, a record for the sector. It also topped prime non-agency MBS volume for the third consecutive quarter.
Originations of expanded-credit mortgages increased 20.2% in 2018 and market share for the sector also grew, according to a new ranking and analysis by Inside Nonconforming Markets. [Includes one data chart]
Carrington Mortgage Services loosens its underwriting guidelines and improves pricing for various expanded-credit products; Home Point Financial joins the expanded-credit market; Essent Group isn't interested in proving PMI for non-QMs...
Mortgage-backed securities with expanded-credit underwriting standards are flowing into the market. Presale reports were published this week for three deals and others are in the works.
The loans included in expanded-credit mortgage-backed securities in the fourth quarter of 2018 had on average tighter underwriting than previous issuance. [Includes one data chart.]
RSS