Ellington and other non-QM funders have emphasized having a diversity of borrowing sources...

Credit Suisse’s Select Portfolio Servicing was the largest nonprime servicer, by far, at Dec. 31, with $141.0 billion...

Three bank failures in seven days? Class-action attorneys are circling the wagons, so is the Department of the Justice...

Launched in 1987 by Jeff May, Cherry Creek boasts 68 branches in 45 states....

The top three expanded-credit lenders in 2022: Citibank, Angel Oak and Guaranteed Rate...

Originations of non-QMs and other expanded-credit products increased in 2022 while total mortgage originations declined. Citi was the top expanded-credit producer during the year.

Rising interest rates and fickle demand in the secondary market made it difficult to originate non-QMs in 2022. The hope among industry participants is that volatility will recede.

Non-QM lenders and MBS issuers are making adjustments amid a volatile secondary market. Issues include timing for MBS issuance and competition for new production.

Among a group of 20 prominent nonprime servicers, portfolio balances increased by 0.3% during the fourth quarter of 2022. Prepayment rates on non-QMs are low and delinquencies are rising.

Impac’s CashCall unit will provide leads on non-QMs to mortgage brokers. The lender is also closing its third-party originations unit.