| Inside Mortgage Finance

Interest-Only Lending Declines in First Quarter

Originations of interest-only mortgages declined in the first quarter among a group of lenders that participate in the sector. Close to 70% of the loans held by First Republic Bank, the nation's top IO lender, have IO features.

FirstKey Preps First Post-Crisis HELOC MBS

The company is set to issue the first post-crisis non-agency MBS stocked entirely with home-equity lines of credit. Fitch assigned preliminary AAA ratings to the deal. Read More

BofA Jumps to Top ARM Lender Spot in First Quarter

Bank of America overtook Chase and Wells Fargo as the top originator of adjustable-rate mortgages in the first quarter of 2019. The ARM share of total originations also increased slightly.

Moody’s Sees Risks from QM ‘Patch’ Loans in Non-Agency MBS

Investors in non-agency MBS face increased risks from GSE-eligible mortgages according to Moody's. The loans are allowed to have relatively high DTI ratios while still receiving QM status.

Pretium Set to Acquire Deephaven from Varde

Varde agreed to sell non-QM lender Deephaven to Pretium, an investment manager involved in single-family rentals along with mortgage credit. Transaction details weren't disclosed.

Surge of Expanded-Credit MBS at Quarter-End

Five expanded-credit MBS deals are due at the end of the second quarter. The issuers are Ellington Financial, New Residential, Seer Capital Management and affiliates of Caliber Home and Starwood Property. Read More

Chase Prepping Two Prime Non-Agency MBS Deals

JPMorgan Chase is preparing to issue two prime non-agency MBS. And Annaly has another deal backed by GSE-eligible investment-property mortgages.

Fix-and-Flip MBS Issuance Sputters Along

Issuance of MBS backed by fix-and-flip loans is outpacing that of last year, though the market remains small. The largest issuer in the space received a significant investment from KKR.

News Briefs

Inside Nonconforming Markets

June 21, 2019

View Archived Issues

Interest-Only Lending Declines in First Quarter

FirstKey Preps First Post-Crisis HELOC MBS

BofA Jumps to Top ARM Lender Spot in First Quarter

Moody’s Sees Risks from QM ‘Patch’ Loans in Non-Agency MBS

Pretium Set to Acquire Deephaven from Varde

Surge of Expanded-Credit MBS at Quarter-End

Chase Prepping Two Prime Non-Agency MBS Deals

Fix-and-Flip MBS Issuance Sputters Along

News Briefs

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Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside Nonconforming Markets

June 21, 2019

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?