Cart

Inside Nonconforming Markets

October 2, 2020

View Archived Issues

Prime Non-Agency MBS Issuance Rebounds in 3Q

Issuance of prime non-agency MBS more than doubled in the third quarter. Thanks to new production, expanded-credit MBS remained the top source of non-agency MBS, though issuance is slowing. (Includes data chart.) Read More

FSOC Secondary Market Review Omits Non-Agency Sector

The Financial Stability Oversight Council’s review of the secondary mortgage market focused solely on the GSEs. Bottom line: Regulators endorsed con-servative capital requirements recently unveiled by the FHFA. Read More

CFPB’s QM Proposal Would Help Many Jumbo Non-QMs

More than $40 billion of jumbos originated in 2019 were non-QMs because they had DTI ratios greater than 43%. Many of the loans would be QMs if they were originated under the CFPB’s proposed QM standards. (Includes data chart.) Read More

Impairments of Loans in Non-QM MBS Decrease Slightly in August

Some 19.2% of non-QMs in MBS were modified or delinquent as of the end of August, down 70 basis points from July. Loan performance improved even as enhanced unemployment benefits expired. Read More

Chase, Credit Suisse Round Out MBS Issuance in September

In late September, JPMorgan Chase brought two prime non-agency MBS to the market while Credit Suisse offered a non-QM deal. Read More

Lenders, Consumer Advocates Divided on Seasoned QM Proposal

While lenders like the CFPB’s proposal to provide QM status to certain non-QMs if the loans perform well for the first three years after origination, con-sumer advocates warned of reduced protections for borrowers. Read More

A Loan Mod Could Strip a Mortgage of its QM Status, Vendor Warns

If the CFPB doesn’t address the issue, sales of modified loans could stall due to compliance concerns, according to Kasasa, a third-party service provider. Read More

News Briefs

State regulators propose capital requirements for nonbank servicers; non-agency forbearance increases; Verus launches jumbo program; Angel Oak al-lows 90% LTV ratios on bank statement loans; PCMA expands into Florida; Home Diversification Corp. looking to launch second lien. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results