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Inside Nonconforming Markets

June 4, 2021

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Expanded-Credit Mortgage Originations Nearly Flat in 1Q21

An estimated $8.60 billion of non-qualified mortgages and other expanded-credit products were originated in the first quarter. But the sector’s market share was still below 1.0%. (Includes data chart.) Read More

Correspondent Channel Gains Jumbo Market Share in 1Q21

Jumbo correspondent lending continued to make its comeback in the first quarter of 2021 after a sharp drop in volume tied to the coronavirus. Trends were mixed among lenders that focus on the retail channel. (Includes data chart.) Read More

Mixed Feelings on New Loan Flow into Non-Agency MBS

The non-agency market has emerged as an alternative, albeit at a higher cost, for lenders to deliver GSE-eligible mortgages backed by investment properties and second homes. However, some lenders are concerned about the adverse impact GSE restrictions could have. Read More

Three Firms Dominate Non-Agency MBS Servicing in 1Q21

The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share. Read More

Competition for Business Purpose Loans Heats Up

Investors and borrowers alike are showing strong demand for fix-and-flip business purpose loans. Originators see volume rising and new players are entering the sector. Read More

Chase Leads Latest Prime Non-Agency MBS Issuance

Chase issued its fifth large prime non-agency MBS of the year, along with a number of more traditionally sized deals. United Wholesale Mortgage is also set to issue its first deal. Read More

Three Expanded-Credit MBS Deals Hit the Market

Nomura is set to enter the market with a deal backed by non-agency mortgages for investment properties while two other issuers also have deals with newer non-QMs. There’s also a rare non-agency MBS with jumbo reverse mortgages. Read More

News Briefs

Non-QM impairment rate declines in April; non-agency forbearance update; Laurie Goodman appointed chair of MFA Financial’s board; White Mountain Capital boosting loan acquisitions; Synergy One offering HELOC with blockchain tech; capital raises and new financing for financing providers that allow homebuyers to make cash offers; Canopy approved by DBRS as due diligence provider. Read More

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