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Inside Nonconforming Markets

October 22, 2021

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GSE-Eligible Loans Propel Prime Non-Agency MBS in 3Q21

GSE-eligible mortgages for investment properties are reshaping the prime non-agency MBS market. The loans have somewhat looser underwriting standards than what’s typically seen on prime jumbos. (Includes three data charts.) Read More

New QM Standards Prompt Changes in Jumbo Underwriting

Many jumbo lenders are no longer looking to Appendix Q when originating loans. Instead, they have the option to underwrite loans using GSE automated underwriting systems and obtain QM status. Read More

GSE Non-Owner-Occupied Business Down Sharply in Third Quarter

GSE investment-property business fell by nearly 50% between the second quarter and the third quarter. Second-home activity was also off, though by a smaller amount. Much of that volume went into the non-agency market, though that could change. (Includes one data chart.) Read More

Jumbo Activity at Redwood, First Republic Diverges in 3Q

Redwood increased its locks of jumbo mortgages on a sequential basis in the third quarter while First Republic Bank’s lending declined. Read More

Home Equity Investment Activity Gaining Traction

HEIs differ from reverse mortgages in that there’s no age limit and the borrower can still have a first mortgage. Separate HEI securitizations were recently issued involving Point and Unlock Technologies. Read More

New Residential Eyes Fix-and-Flip Business Via Genesis Buy

Securitizing loans originated by Genesis could generate returns of nearly 20% for New Residential. The acquisition is set to close later this year. Read More

Variety of Non-Agency MBS Hit the Market in October

There’s plenty of non-agency MBS with GSE-eligible mortgages for investment properties, along with prime jumbo deals, expanded-credit mortgages and even some esoteric collateral. Read More

News Briefs

Non-QM lender Newfi changing hands; Redwood invests in due diligence provider Canopy; Sprout offers bank statement analysis. Read More

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