Refi inquires declined by 5% on a weekly basis while purchase-mortgage applications were off by 1%...

Some lenders have allowed borrowers to use cryptocurrency to make downpayments or as part of the calculation of a borrower’s assets, but none appear to allow monthly mortgage payments with bitcoin yet.

The top contributor to both MBS is CrossCountry Mortgage.

The abandonment rate on calls to servicers jumped to 5.0% from 3.6% the week prior...

The wholesale lender's originations increased by 20% compared with the first quarter while income fell 84%.

Market turns to non-QM for better margins

Thanks to restrictions implemented earlier this year, GSE MBS issuance involving mortgages for investment properties dropped in the second quarter. Conforming jumbo business also declined. (Includes data chart.)

Annaly’s new conduit is acquiring non-QMs along with GSE-eligible mortgages for investment properties. Previously, the REIT’s main avenue for acquisitions was through bulk purchases.

Angelo Gordon Mortgage Investment Trust expects returns as high as 18% from securitizing non-QMs. The REIT and others are working to increase their acquisitions of the loans.

Acquisitions of non-agency mortgages increased and income declined during the second quarter at MFA Financial. The REIT is putting an emphasis on business purpose loans.