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Inside Nonconforming Markets

August 21, 2020

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Jumbo Lending Increases in Second Quarter, Market Share Declines

Jumbo lending increased by 22.5% in the second quarter but the sector lost market share as borrowers flocked to refinance agency mortgages. Wells Fargo remained the top-ranked jumbo lender by a small margin. (Includes data chart.) Read More

CFPB Seasoned QM Proposal Could Boost Non-QM Lending

Thousands of non-qualified mortgages could receive safe-harbor status three years after origination under a new “seasoning” provision proposed by the CFPB. Read More

Servicing Among Top Jumbo Firms Down in Second Quarter

Servicing balance for jumbo mortgages fell in 2Q20 among a group of 30 servicers tracked by this newsletter, including the top three in the industry. (Includes data chart.) Read More

Seeing Gains from Non-QMs, Ellington Plans to Invest in Lenders

Happy with its returns from non-QM lending and MBS issuance from its investment in LendSure, Ellington Financial may invest in other originators. Read More

Characteristics of Securitized Expanded-Credit Loans Shift in 2Q

The ARM and IO share of loans in expanded-credit MBS increased in the second quarter. The volume of loans produced through the correspondent channel and for investor properties declined. (Includes three data charts.) Read More

Mortgage Industry Supports Extension of QM ‘Patch’

Lenders want the CFPB to provide a six-month overlap between new QM standards coming into effect and the expiration of the “patch.” Read More

Non-Agency MBS Issuance Slow in Mid-August

Only two non-agency MBS hit the market in the past two weeks: a non-QM deal from PIMCO and a deal from Starwood Property. Read More

Velocity Set to Resume Originations in September

Velocity, which focuses on loans for investment properties, is working on obtaining warehouse financing without mark-to-market provisions. Read More

News Briefs

Non-agency forbearance increases; prices for luxury homes fluctuate; PCMA sees strong interest in new non-QMs; Angel Oak and Citadel offer loans underwritten with 12 months of bank statements; former Redwood Trust president moves on to rent-to-own provider. Read More

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