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Inside Nonconforming Markets

September 27, 2019

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CFPB Receives Suggestions Galore on Fixing the QM ‘Patch’

There’s no consensus among industry participants on how the CFPB should address the “patch” for qualified mortgages. However, lenders generally agree that Appendix Q of the ATR rule needs a major overhaul. Read More

QM ‘Patch’ Comments Focus on Non-Agency Market Capacity

The debate around the qualified mortgage “patch” has shifted to whether the non-agency market can handle the volume that currently is delivered to the GSEs. Read More

Non-QM Market Set for More Growth

Originations of non-QMs are set to increase along with issuance of MBS backed by the loans. Investors in the secondary market are helping to fuel the growth. Read More

Mixed Trends in Denial Rates for 2018 Jumbo Mortgages

Denial rates on jumbo mortgages varied in 2018. Denials of applications for purchase mortgages declined while those for refis increased. Denial rates also differed widely among banks and nonbanks. (Includes one data chart.) Read More

ARM Production Up Sharply in Second Quarter

Originations of adjustable-rate mortgages outpaced total first-lien production in the second quarter. ARMs accounted for 13% of originations in the first half of the year. (Includes data chart.) Read More

Interest-Only Originations Jump in Second Quarter

Production of interest-only mortgages by a select group of lenders increased by more than 65% in the second quarter. Data from HMDA provides new insight on the characteristics of IO borrowers. (Includes data chart.) Read More

Non-QM MBS, Investment Property Deals Hit Market

Non-QM MBS from affiliates of Angelo Gordon and Caliber Home Loans are in the works along with a deal backed by investment-property mortgages from JPMorgan Chase. Read More

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