Brandon Ivey

Expanded Credit Lending Up 17% but Lagged Overall Market

March 9, 2020

The fourth quarter was somewhat of a bright spot for the expanded-credit sector. Originations rose by 9.7% compared with the previous quarter while total first-lien originations increased only by 7.9%.

DOJ Investigating Sterling Bank Following Problems with Non-QM Lending

March 9, 2020

Brandon Ivey

Sterling said that in connection with the review, a significant number of employees have either been terminated or resigned, including a senior vice president...

ECM Production Up But Lags Broader Market

March 6, 2020

Brandon Ivey

The expanded-credit sector lost market share in 2019 as lower interest rates helped propel refinances of conforming mortgages. Citi was the top lender in the space. (Includes data chart.)

MBS Issuance Moving Ahead Despite Interest Rate Drop

March 6, 2020

Brandon Ivey

Presale reports for three deals backed by new originations were published this week. However, there’s uncertainty about how they will be received by investors due to market volatility related to the coronavirus.

Retail Share of Jumbo Originations Increases in 2019

March 6, 2020

Brandon Ivey

The retail channel, which is the predominant source of jumbo originations, gained market share from the correspondent channel last year. (Includes data chart.)

Mixed Views on the Relevance of the Non-QM Market

March 6, 2020

Brandon Ivey

Investors that are active in the market for non-QMs can’t seem to get enough of the loans or MBS. Meanwhile, large firms continue to avoid the sector due to concerns about liabilities and the lack of uniformity.

Redwood Benefiting from Market Volatility, Increasing Aggregation

March 6, 2020

Brandon Ivey

Redwood’s mortgage aggregation activity is increasing as banks apparently can’t handle all of the new volume tied to a decline in interest rates.

Noncore Business at GSEs Increases in 2019

March 6, 2020

Brandon Ivey

Despite regulatory talk about increasing efforts to help the non-agency market compete with the GSEs, the volume of noncore loans sold to Fannie and Freddie increased in 2019, led by mortgages with DTIs greater than 43%. (Includes data chart.)