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Inside Nonconforming Markets

March 12, 2021

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Expanded-Credit Originations See Recovery in 4Q20

Originations of expanded-credit mortgages fell by nearly 30% on an annual basis in 2020 and the sector lost market share. But lenders in the sector believe production will gradually recover. (Includes data chart.) Read More

In Biden’s CFPB, Non-Agency Lending Falls by the Wayside

Lenders can use the QM standards drafted in the waning days of the Trump administration. But there’s no certainty new leadership at the CFPB will leave them as they are. Read More

REITs Working to Boost Acquisitions of Non-QMs

MFA Financial made an investment in a non-QM lender, Starwood Property Trust is closing in on a similar move, and Western Asset Mortgage Capital expanded its purchase agreements. Read More

Nonprime Servicing Portfolios Decline Slightly in Fourth Quarter

Nonprime servicing portfolios fell by 0.7% in 4Q20 and 4.1% year-over-year. But Select Portfolio Servicing boosted its receivables during the year. (Includes data chart.) Read More

Redwood Putting an Emphasis on Technology to Speed Business

The real estate investment trust launched a new program to quickly close loan acquisitions — at times faster than the GSEs. Read More

Mortgage Holdings by Banks Fall for First Time in Years

Bank and thrift first-lien holdings declined by 1.2% at the end of 2020, marking the first quarterly drop since the first quarter of 2017. The three largest banks reduced their holdings in the fourth quarter. (Includes data chart.) Read More

Lenders Roll Out New Non-Agency Products

A number of lenders have introduced new non-agency products with looser underwriting guidelines in recent weeks. Rocket and United Wholesale offered jumbos and Deephaven widened expanded-credit products. Read More

Non-Agency MBS Issuance Ramps up, Led by Jumbos

Issuers of non-agency MBS brought four jumbo deals to the market this week. Some shops closed securitizations with esoteric collateral. Read More

News Briefs

Non-agency forbearance declines; Redwood staff shrinks in 2020; SFVegas rescheduled; details on due diligence billing. Read More

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