Brandon Ivey

Non-Agency Jumbo Sector Gains Market Share

May 26, 2021

Jumbos accounted for 9.2% of all home originations in the first quarter, an increase from 8.9% in 4Q20.

GSE Investor-Property Business Spikes in 1Q Ahead of New Limits

May 25, 2021

According to Kroll Bond Rating Agency, $10 billion to $20 billion of GSE-eligible mortgages for investment properties and second homes could shift into non-agency MBS due to the new restrictions.

UWM Quickly Packages Conforming Jumbos into Non-Agency MBS

May 24, 2021

Brandon Ivey

KBRA noted that UWM is "appropriately staffed on production and control functions to handle its present growth relative to increased volume."

Short Takes: Making a Market in GSE Investor Loans / Concerns Over the CFPB’s Foreclosure Moratorium / Not Allowed? / The Forbearance Tally Rises

May 24, 2021

Brandon Ivey and Paul Muolo

A rare increase in the forbearance reading...

Angel Oak’s Mortgage-Investment Unit Files for IPO

May 21, 2021

Brandon Ivey

Angel Oak Mortgage, which primarily invests in non-QMs originated by affiliates of Angel Oak Companies, plans to become a public company.

Non-Agency Jumbo Sector Gains Market Share in First Quarter

May 21, 2021

Brandon Ivey

Jumbos accounted for 9.2% of total first-lien originations in the first quarter of 2021, a slight improvement from 4Q20, but nowhere close to pre-pandemic levels. (Includes data chart.)

Non-Agency Market Poised for Growth in Coming Years

May 21, 2021

Brandon Ivey

A reduction in GSE refi business along with regulatory changes are expected to prompt an increase in originations of non-agency mortgages. The bulk of the increase could come from prime loans.

Short Takes: Stepping Into the Mortgage Pond: Amerant / An Investment in GSE Debt / A Bank Merger with Mortgage Implications / Some Details on UWM’s MBS / Impac’s New CIO: Nwokorie

May 21, 2021

Paul Muolo and Brandon Ivey

The first non-agency mortgage-backed security issued by United Wholesale Mortgage will be stocked with conforming jumbos.

GSE Investor-Property Business Spikes in 1Q Ahead of New Limits

May 21, 2021

Brandon Ivey

Securitization of mortgages for investment properties increased at Fannie and Freddie in the first quarter even as overall GSE business declined. Lenders appear to have rushed to deliver the loans before new restrictions took effect. (Includes data chart.)

Nonbanks Increasing Investments in Non-QM Market

May 21, 2021

Brandon Ivey

A number of firms are working to increase originations of non-QMs and ramping up investments in the loans. It can be a highly profitable business, though investor demand is volatile.

Brandon Ivey

ARTICLES

Non-Agency Jumbo Sector Gains Market Share

GSE Investor-Property Business Spikes in 1Q Ahead of New Limits

UWM Quickly Packages Conforming Jumbos into Non-Agency MBS

Short Takes: Making a Market in GSE Investor Loans / Concerns Over the CFPB’s Foreclosure Moratorium / Not Allowed? / The Forbearance Tally Rises

Angel Oak’s Mortgage-Investment Unit Files for IPO

Non-Agency Jumbo Sector Gains Market Share in First Quarter

Non-Agency Market Poised for Growth in Coming Years

Short Takes: Stepping Into the Mortgage Pond: Amerant / An Investment in GSE Debt / A Bank Merger with Mortgage Implications / Some Details on UWM’s MBS / Impac’s New CIO: Nwokorie

GSE Investor-Property Business Spikes in 1Q Ahead of New Limits

Nonbanks Increasing Investments in Non-QM Market

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