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Inside Nonconforming Markets

July 10, 2020

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Non-Agency MBS Issuance Diverges in Second Quarter

Issuance of prime non-agency MBS dropped in the second quarter while expanded-credit activity was up 5% from the first quarter. (Includes data chart.) Read More

Delinquencies on Non-Agency Mortgages Up Again in May

Delinquencies and loan modifications on non-agency mortgages increased in May, but at a slower rate than the sharp increase in April. Delinquencies are much higher on non-QMs than jumbos. Read More

Non-QM Lenders Gradually Evolving as Volatility Recedes

Lenders in the non-QM sector are working to get back to the way things were before the coronavirus. Sprout has resumed correspondent lending while a number of lenders have loosened underwriting standards. Read More

Wells, Neuberger Berman to Issue Non-Agency MBS in 3Q

Wells Fargo is maintaining its steady issuance of prime non-agency MBS while a pending deal from Neuberger Berman is much larger than the expanded-credit MBS the firm issued in May. Read More

United Wholesale Tops Jumbo Correspondent Sellers in 2019

United Wholesale Mortgage reached the top spot by more than doubling its sales of jumbo mortgages during 2019. Banks purchased nearly 60% of jumbos sold during the year. (Includes data chart.) Read More

California’s Share of Jumbo Originations Increases in 2019

California, already the largest state in terms of jumbo originations, increased volume by 50% in 2019. Overall, jumbo originations increased by 37% last year. (Includes data chart.) Read More

QM Proposal Aims to Spur Non-Agency Innovation

The CFPB is hoping that by removing a firm debt-to-income ratio metric from QM qualification standards, lenders will come up with new techniques to qualify borrowers. Read More

CFPB Proposes Escrow Exemption for Higher-Priced Loans

Under the proposal, some 147 smaller banks and credit unions won’t have to maintain an escrow account for higher-priced mortgage loans. Read More

News Briefs

Regulators delay review of risk-retention requirements for securitized mortgages; Wells Fargo updates underwriting standards for jumbo mortgages originated through the retail channel. Read More

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