Morningstar DBRS analyzed how securitizations of home equity investments fared against home price appreciation.

More lenders are entering the non-qualified mortgage space or expanding their non-agency product offerings.

Adamas Trust acquired $632 million of business-purpose loans during the second quarter of 2026 and completed two BPL-rental securitizations.

Gershman Mortgage launches HELOC product; HighTechLending enhanced HELOC offering; Truss Financial Group launches a debt service coverage ratio HELOC; Movement Mortgage launches ITIN product.

Issuance of expanded-credit mortgages declined by 4.8% on a quarterly basis in the second quarter, with purchase-mortgage volume down. (Includes three data charts.)

Servicers of business purpose loans noted challenges handling the asset class due to the customizable structure of the loans.

Founded in 2019, New York-based Button Finance originally planned to focus on home equity lending, but is now branching out into non-qualified mortgages.

If passed, the Home Equity Lending Integrity Act would regulate home equity investment products, including subjecting HEIs to requirements under the Truth in Lending Act.

Impairments on non-qualified mortgages rose on a monthly basis in May, driven by higher new impairments and weaker cure and made payment rates, according to dv01.

June’s growth follows a period of stagnation as bridge lending volume flattened out at the end of 2025 and into early 2026.