Rising interest rates and tightening of credit standards from banks caused a slowdown in jumbo lending in the first quarter of 2023. First Republic Bank was the top producer in the sector, followed by Wells Fargo. (Includes data chart.)

Deephaven Mortgage and Arc Home are looking to add to their operations and sales teams to take advantage of upcoming opportunities in the non-QM space.

Originations of higher-priced mortgages slightly increased last year, with many loans produced by CDFIs and lenders who specialize in mobile and manufactured homes. (Includes two data charts.)

Real estate investment trusts are facing adversity in the non-qualified mortgage space due to high interest rates and low originations.

Income spiked at MFA Financial in the first quarter of 2023. Officials attributed the improvement to prudent risk management maneuvers.

The asset management firm turned non-agency loan originator continued to build its direct-to-borrower and wholesale channels in the early months of 2023.

Velocity Financial reduced its production of business purpose loans for the second consecutive quarter but remained profitable in the early months of 2023.

Republic First Bank exits mortgage business; LoanNex’s non-QM marketplace comes to LendingPad; Former Athas Capital CEO to launch non-QM shop; new non-agency MBS; Maxex debuts program for alternative-doc loans.

Issuance of prime non-agency mortgage-backed securities bounced back after a dismal fourth quarter, but activity was well below the highs of the first quarter of 2022. (Includes three data charts.)

The sale of First Republic Bank to Chase has opened a door for nonbanks hoping to expand in the jumbo market.