Nearly 70% of the volume going to the GSEs due to the QM patch could be handled in the non-agency market without disrupting borrowers, according to a new SEC filing and presentation from Redwood.
Chase and Chimera are set to issue separate non-agency MBS backed by mortgages for investment properties, following similar deals from a handful of other firms.
Maxex recently completed a round of funding, taking the amount of capital it has raised since 2012 to more than $90 million. The company connects buyers and sellers of jumbo mortgages.
The trade group is urging the CFPB to allow jumbos to receive qualified mortgage status even if the loans have debt-to-income ratios greater than 43%. The pending expiration of the QM patch has also prompted a back-and-forth among think tanks.
FHFA Director Mark Calabria plans to take steps to help non-agency market players better compete with the government-sponsored enterprises. However, lowering conforming loan limits isn’t part of the plan.
Carrington Mortgage Services is prepping its first MBS backed by non-qualified mortgages, which differ from loans in expanded-credit products from other issuers.
Expanded-credit mortgage originations declined for the second consecutive quarter at the end of March. Demand from borrowers was down but lenders remain optimistic about the sector.