Although the growth curve flattened a bit in 2025, production of loans with terms of two years or less increased by 15% last year. (Includes one data table.)

Poor quality appraisals and weak due diligence controls are leading to growing concern about appraisal values for non-QMs.

Production of adjustable-rate mortgages in the first quarter of 2026 totaled $79.00 billion, down 16.0% from the fourth quarter of 2025. (Includes one data table.)

President Trump’s recent executive order targeting lending to immigrants could change lenders’ practices when lending to borrowers using individual taxpayer identification numbers.

Fitch Ratings has concerns about new products in the debt service coverage ratio and cryptocurrency spaces.

Button Finance makes three hires; Logan Finance appoints Western managing director of sales; AD Mortgage launches non-QM offerings for prime borrowers; Insula Capital Group introduces portfolio-level debt service coverage ratio financing; Land Gorilla launches AI-powered due diligence solution; Hometap offering two-tier pricing structure for home equity investments.

Originations of non-agency jumbo mortgages declined by 18.2% on a quarterly basis in the first quarter of 2026. (Includes one data table.)

Two of the largest expanded-credit MBS seen thus far in 2026 hit the market recently, with investor demand remaining strong.

With more demand than supply, interest rates on DSCR mortgages are converging with agency rates.

The denial rate on jumbo mortgages fell to 12.1% in 2025, down from 13.0% in 2024. (Includes one data table.)