A handful of GSE-eligible mortgages in Goldman's deal have loan-to-value ratios greater than 80% and private mortgage insurance, which is uncommon for loans in non-agency MBS.
United Wholesale Mortgage was the top originator of prime mortgages securitized in non-agency MBS in 2019. Underwriting characteristics for the sector loosened modestly.
The bureau’s plan to replace the QM patch could reduce the volume of mortgages that flow into the non-agency market, according to analysts. The CFPB is working to avoid disruption to GSE-eligible originations.
First Republic Bank enjoyed a record year for originations while jumbo production declined at Flagstar Bank and Axos Financial. The banks noted that competition suppressed originations.
Vista Point Mortgage received an assessment by S&P, which suggests the firm is aggregating non-QMs with plans to contribute to non-agency MBS. The firm was founded by the former president of Impac Mortgage.