PennyMac, the largest correspondent lender in the industry, will begin offering non-qualified mortgages later this month. The move could be a major boost for the sector.
A group of 30 major servicers increased their combined servicing of jumbo mortgages slightly from the end of March to the end of June. (Includes data table.)
Issuers of MBS backed by non-qualified mortgages are starting to include floating-rate tranches, a feature more commonly seen in jumbo MBS and certain other asset classes.