A recent rise in self-employed individuals is helping drive increased demand for non-QM products such as bank statement loans, according to lenders who recently spoke with Inside Nonconforming Markets.

Figure will be the first U.S. company to use of Sierra’s newly-established Horizon platform, which enables businesses to build agents that can work on complex tasks over longer periods of time.

Two prime agency-eligible deals have begun marketing.

The number of self-employed workers is rising, helping boost originations of bank statement and investor loans.

A growing non-QM MBS sector might be hamstrung by a lack of uniform underwriting and a variety of smaller originators.

Rating services are preparing rating criteria that will consider the impact of loans underwritten using VantageScore 4.0 and FICO 10T.

The lender will retain mortgage servicing rights on its originations in an effort to increase borrower retention.

The lender removed the percentage split between loan officers and NEXA as well as some of the costs tied to other comp structures.

Redfin found that 71.6% of ARM borrowers can refinance into a 30-year fixed rate that is at least 50 bps lower than their original rate.

Lenders are turning to artificial intelligence to reach borrowers even when loan officers are off the clock.