Quicken Loans denied 29.6% of applications for jumbo purchase-mortgages in 2018 and denied nearly half of the jumbo refi applications it received.

Caliber’s Elite Access program is aimed at borrowers who could not qualify for a jumbo mortgage at a bank.

Investors are flocking to non-QM MBS and losses on the deals have been essentially non-existent. However, some large firms continue to hold out for better protections.

Some are calling for the GSEs’ automated underwriting systems to be used after the QM patch expires to determine whether a mortgage is a QM.