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Inside Nonconforming Markets

August 27, 2021

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Non-Agency Jumbo Lending Increases Amid Broader Downturn in 2Q

Originations of jumbo mortgages increased by 32% in the second quarter while total first-lien originations declined, helping the sector gain market share. Still, the share is below pre-pandemic levels. (Includes data chart.) Read More

Non-Agency MBS Reviews Delayed Until Post Closing

A new expanded-credit MBS from Angelo Gordon includes loans that won’t be subject to third-party reviews until after closing. Due diligence firms are swamped due to a boom in non-agency MBS issuance. Read More

United Wholesale Ramps Up Non-Agency Jumbo Activity

The lender curtailed its jumbo lending in the early days of the pandemic. Now, jumbos account for a growing share of United Wholesale’s production and the firm is issuing non-agency MBS. Read More

Jumbo Servicing Portfolios Still Recovering from Pandemic Decline

An increase in jumbo originations helped to grow servicing portfolios at many shops during the second quarter. Top-ranked Wells Fargo, however, saw its jumbo servicing portfolio decline. (Includes data chart.) Read More

Angel Oak’s REIT Has an Edge in Sourcing Non-QMs

The REIT sources the bulk of its acquisitions of non-QMs from lending units affiliated with Angel Oak Companies, leaving more time for asset management and securitization activities. Read More

Investment-Property Loans Dominate Non-Agency MBS Issuance

In the past two weeks, $2.74 billion of non-agency MBS were gobbled up by investors. GSE-eligible mortgages for non-owner-occupied properties accounted for half of the dollar volume in the deals. Read More

Impac Takes a 2Q21 Loss Despite Greater Emphasis on Non-QMs

After a narrow loss in the first quarter, Impac boosted its non-QM originations, but the nonbank’s loss widened in the second quarter. Still, officials at the company are optimistic about the sector. Read More

News Briefs

Non-agency forbearance increases; new securitization involving contracts tied to home price appreciation; new commercial mortgage product for brokers; Sachem’s income increases in 2Q. Read More

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