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Inside Nonconforming Markets

August 16, 2019

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Non-Agency Jumbo Originations Surged in the Second Quarter

Originations of non-agency jumbo mortgages increased in the second quarter, spurred by low interest rates. The sector gained market share and some lenders said pipelines were strong heading into 3Q19. Read More

REITs Lapping Up Non-QMs

Several real estate investment trusts, including MFA Financial and Starwood Property Trust, are expanding their portfolio of non-qualified mortgages. The loans provide attractive returns, whether retained or bundled into an MBS. Read More

Annaly, Chimera Seeing Benefits of Non-Agency MBS

Annaly and Chimera are generating strong returns aggregating mortgages, issuing non-agency MBS and retaining subordinate tranches from the deals. Chimera plans to be a regular issuer of non-agency MBS with GSE-eligible loans. Read More

Quicken Tops Prime Non-Agency MBS Contributors in 2Q

Quicken increased its contributions to prime non-agency MBS this year, including $619 million of loans going into deals issued in the second quarter. Characteristics of the deals were largely unchanged. Read More

Non-QM Lending by Impac Decreases in Second Quarter

Originations of non-QMs by Impac fell in the second quarter as the lender increased production of GSE refinances. However, officials at the nonbank stress that non-QMs remain an important part of Impac’s business. Read More

Credit Suisse Enters Non-QM MBS Market; Chase, PIMCO Innovate

Credit Suisse jumps into the non-QM MBS market, tapping a lender that previously contributed to MBS from Western Asset Management Company. JPMorgan Chase and PIMCO separately brought innovative deals. Read More

Documentation Issues Prevent Many Non-QMs from Closing

Many applications for non-QMs don’t make it to closing due to documentation issues that could possibly have been easily addressed, according to an analysis by a due diligence provider. Read More

News Briefs: Aug. 16, 2019

Moody's proposes a new way of treating private MI for loans included in non-agency MBS; Angel Oak launches a pre-qualification tool; Sachem's earnings down in 2Q; more Read More

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