Noncore products include conforming jumbos, investor loans, cash-out refis and mortgages for second homes. (Includes data table.)

Originations of jumbo mortgages declined in the first three months of the year driven by a retreat among banks. Nonbank lenders picked up some of the slack. (Includes data table.)

Rejection rates on jumbo mortgage applications increased last year even as application volume declined. (Includes data table.)

Both the prime jumbo non-agency MBS market and the expanded-credit sector posted sequential increases in issuance in the first quarter. (Includes data tables.)

Noncore products going into GSE securitizations saw less drop off than core products in the first quarter. (Includes data table.)

While the retail channel remained the predominant source for jumbo lending, originations through the channel fell 9.0% from the second to the third quarter. Correspondents and brokers gained share. (Includes data table.)

Originations of adjustable-rate mortgages stayed flat in the third quarter while total first-lien production declined somewhat. (Includes data table.)

Select Portfolio Servicing continued to dominate the sector in the second quarter. (Includes data chart.)

Renewed calls for standardization come with potential challenges unique to the non-QM sector.

Lenders originating ARMs weren’t able to buck the broader trend of declining originations in the fourth quarter of 2022. Still, on an annual basis, the ARM share nearly doubled in 2022 thanks to rising interest rates. (Includes data chart.)