Ownify launched its fractional homeownership program in the Triangle area of North Carolina after raising $7 million in seed funding.

Roc360 acquires BPL assets from Civic Financial Services; new non-agency MBS; non-agency MBS performing well; UWM launches new jumbo products; fractional home-equity provider.

“MLOs don’t want to touch non-QM if they don’t have to,” said Aaron Samples, the former CEO of First Guaranty Mortgage.

Spreads on new non-agency MBS issuance are tightening. Still, issuance is expected to decline on an annual basis.

Chase leadership anticipates building strong relationships with the affluent borrowers that First Republic garnered throughout its 38-year existence.

Non-qualified mortgage lenders have an opportunity to gain market share in the wholesale channel as competition contracts.

As interest rates rise, homeowners are staying out of the real estate market because they don’t want to let go of the record-low mortgage rates they were able to obtain over the last two years.

Chase’s top officials shed light this week on how First Republic Bank’s high-quality mortgage assets and affluent borrowers fit right into the megabank’s wheelhouse.

Non-agency higher-priced mortgages are a proxy for subprime loans.

While business is slow in most of the mortgage market, some non-QM lenders are anticipating a busy second half of 2023.