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Inside Nonconforming Markets

August 30, 2019

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Expanded-Credit Originations Trail Strong Market in 2Q

Production of expanded-credit mortgages increased in the second quarter but not by nearly as much as the surge in total originations. The sector was crowded out to some extent by conventional loan refinances. Read More

Jumbo Mortgage Refi Volume Jumps in Second Quarter

Refinances of jumbo mortgages increased significantly in the second quarter and accounted for 35.5% of total jumbo originations. Industry participants expect refi volume to remain elevated. Read More

Correspondent Share in Jumbo Market Is Down a Tad

Jumbo originations increased across channels in the first half of 2019. The correspondent channel lost a little bit of market share while retail remained the dominant source of jumbo production. Read More

Citi the Second Big Bank to Issue Non-QM MBS

Citi joined JPMorgan Chase as the second big bank to issue MBS backed by non-QMs. The deal was stocked with mortgages from Impac. Read More

Bank Holding of First Liens Up 2.2% in Second Quarter

Holdings of first liens by banks and thrifts increased in the second quarter. JPMorgan Chase ranked second with a portfolio of $231.21 billion, but its holdings were off on both a quarterly and an annual basis. Read More

Fitch Makes Issuer-Friendly Tweaks to MBS Loss Model

The rating service made a couple of issuer-friendly tweaks to its MBS loss model criteria proposed in June. The rating service, for the first time, will con-sider catastrophic risk when assessing loans. Read More

Redwood Receives Favorable ‘No-Action’ Letter from SEC

The real estate investment trust received a positive no-action letter from the SEC regarding mortgage servicing rights acquired as part of its mortgage banking activities. Read More

LendingHome Issues its Second MBS of the Year

LendingHome in July issued its second fix-and-flip MBS of 2019. The deal was met with stronger demand than the security issued in March. Read More

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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?

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