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Inside Nonconforming Markets

April 9, 2021

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Non-Agency MBS Issuance Up Sharply in First Quarter, Led by JPM

Issuance of non-agency MBS increased by 84% on a sequential basis in the first quarter of 2021. Chase accounted for nearly a third of all issuance. (Includes data chart.) Read More

CFPB Hesitancy on QM Rule Limiting Non-Agency Lending

An effort by the CFPB to delay the end of the QM patch is causing uncertainty for non-agency lenders. A coalition of lenders and consumer advocates said the CFPB shouldn’t move forward with the proposal. Read More

Non-QM Impairment Rate Increases for Second Straight Month

The impairment rate on securitized non-QMs hit 11.1% at the end of February. At the end of 2020, the rate stood at 10.3% after months of steady improvement. Read More

CFPB Foreclosure Delay Plan Includes Non-Agency Loans

Legal analysts say the bureau’s across-the-board delay on foreclosure starts could face legal challenges. Meanwhile, consumer advocates call for more stringent requirements. Read More

HMDA: Origination of Loans with Short Terms Decline in 2020

Residential lending with loan terms of three years or less declined by nearly 30% on an annual basis in 2020. LendingHome topped lenders in the fix-and-flip and bridge loan sector. (Includes data chart.) Read More

Concerns Over Appraisal Waiver Loans in Non-Agency MBS

Two non-agency MBS issued in March included a significant number of loans that didn’t receive full appraisals due to GSE policies. Rating services penalized the collateral by increasing assessed LTV ratios. Read More

Spring Boom: Several Non-Agency MBS Deals are in the Pipeline

AIG is set to issue a jumbo MBS with new production and MFA Financial has a non-QM deal with loans that have seasoned for 16 months. A surge of issuance also looks likely later this month. Read More

News Briefs

CSBS moving forward with servicing standards for nonbanks; A&D launches jumbo with new QM standards; Angel Oak Commercial Lending expanding into wholesale; Redwood adds Faith Schwartz and Armando Falcon to its board. Read More

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