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Inside Nonconforming Markets

April 23, 2021

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New Top Lender Emerges in Prime Non-Agency MBS in 1Q21

Guaranteed Rate jumped to the top spot in the first quarter of 2021 among lenders contributing to prime non-agency MBS. MAXEX Clearing also sharply increased its contributions. (Includes two data charts.) Read More

Prime Non-Agency MBS Flows in April, New Issuers Enter Market

Prime non-agency MBS issuance continued to flow in April, helped by some new players. Expanded-credit activity has been limited recently, with a downturn in demand. Read More

Non-Agency Lenders Figuring Out the QM Standard Hurdle

Non-agency lenders are waiting for a decision from the CFPB on standards for qualified mortgages. The CFPB wants to extend the QM patch, though the Trump administration threw a wrench in that plan. Read More

Jumbo Activity Mixed in 1Q at First Republic, Redwood

Mortgage originations declined by 11% in the first quarter at First Republic while Redwood increased its lock volume by 21% from the fourth quarter. Read More

Non-Agency Higher-Priced Lending Drops in 2020

Non-agency originations of higher-priced mortgages declined by 35% on an annual basis in 2020. The higher-priced designation is a proxy federal regulators use for subprime mortgages. (Includes two data charts.) Read More

Blockchain Touted as Pivotal for Non-Agency MBS

Redwood is trying to shift blockchain from a buzzword to practical technology for the non-agency MBS market. The firm made an investment in Liquid Mortgage, a blockchain-focused startup. Read More

Sachem Capital Expanding Fix-and-Flip Lending Beyond Connecticut

After focusing on fix-and-flip lending in Connecticut for years, Sachem Capital is now lending in 10 states. The lender recently completed debt sales to fuel its growth. Read More

News Briefs

CSBS scaling back proposed standards for large nonbank servicers; SFA offers disclosures for non-agency MBS performance; non-agency forbearance increases; non-agency mortgage conduit launches; Redwood invests in finance company involved in SFR/bridge lending; PCMA expanding geographically. Read More

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