The CFPB wants to base QM status on a pricing metric rather than approval by the GSEs. Most mortgages would remain QMs but some business could shift to the non-agency market.

The GSEs and non-agency lenders are asking self-employed borrowers to submit more documents than what was required earlier this year.

Forbearance requests leveled off near the end of May but the share of borrowers missing payments while in forbearance increased.

The mortgage M&A market has been dormant during the pandemic, but all that could soon change. Guaranteed Rate, for one, is looking to buy.

Production of non-QMs is nowhere near the levels seen earlier this year. The situation won’t change until demand rises in the secondary market.

Pandemic-related market volatility in March dampened non-agency jumbo lending more than other sectors in the mortgage business. Conforming-jumbo production also fell sharply in the first quarter but began regaining momentum in April. (Includes three data charts.)

Two top non-QM lenders have resumed activity but with fewer products and tighter underwriting. The secondary market is also reopening.

Impac Mortgage Holdings is about to unload what’s left of its MSR assets. Meaning?

In a sign of hope for the non-QM market, Sprout Mortgage resumed offering expanded-credit products last week.

Warehouse credit flows downhill: from the financier to the nonbank lender to the consumer. But with the pandemic stoking new economic fears, some providers are tightening their standards, like market leaders JPM and FH.