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Volume 2018 - Number 18

May 11, 2018

Nonbanks Gearing Up to Issue Non-Agency MBS Backed by Non-QMs as Investor Demand Deepens

A handful of nonbanks are preparing to enter the non-agency MBS market as issuers of deals backed by non-qualified mortgages. Investor demand for the products remains strong, prompting interest from new entrants.

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This weekly covers the secondary mortgage market, including mortgage-backed securities and asset-backed securities.



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Who "owns" the mortgage customer that’s brought to a wholesale lender through a loan broker?

The broker. It’s his/her client.


The wholesale/table funder. They’re taking the financial risk.


The broker, but only for the first year. After that, the borrower is fair game.


Hard to answer. It’s a complicated issue.