Brandon Ivey

New QM Standards Likely to Shrink Non-QM Share

January 29, 2021

A significant portion of non-QMs could meet new standards for qualified mortgages, according to Kroll Bond Rating Agency. It’s also possible that the CFPB will alter the standards before they take effect.

Chase Offers Large Prime Non-Agency MBS

January 29, 2021

Brandon Ivey

Chase is set to issue a $1.03 billion MBS backed by newly originated jumbos. Meanwhile, Credit Suisse and MFA have deals with slightly seasoned non-QMs and investment-property loans.

New Limits on GSEs of Little Help to Non-Agency Market

January 29, 2021

Brandon Ivey

The latest changes made to the GSEs’ preferred stock purchase agreement place limits on certain loan acquisitions by Fannie and Freddie. However, the move is unlikely to help the non-agency market.

News Briefs

January 29, 2021

Brandon Ivey

Strong application volume for non-QMs at PCMA; increased funding for investment-property mortgages; CFPB exempts smaller depository institutions from escrow requirements for higher-priced mortgages.

Once Bitten, Twice Shy: Non-QM Market Alters Strategy

January 28, 2021

Brandon Ivey

Originators of non-qualified mortgages are selling product in smaller batches and as whole loans. The reason: better execution than delivering them into MBS.

Grapevine: More Originations, More MBS; Wells and Mortgages?

January 28, 2021

Paul Muolo and Brandon Ivey

It was a record year for mortgage production. Meaning: a ton of new MBS.

Pandemic’s Long-Lasting Impact on Non-QM Lending

January 28, 2021

Brandon Ivey

Volatility in the secondary market for non-QMs receded within two months but originations are still nowhere near pre-pandemic levels. Reason: lenders focusing on agency refis.

Industry Calls for $25 Billion in Housing Assistance

January 28, 2021

Brandon Ivey

The fund could be modeled after the Hardest Hit Fund, providing funds to state housing finance agencies to help borrowers bring their mortgages current.