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Inside Nonconforming Markets

December 3, 2021

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Expanded-Credit Mortgage Originations Up 24% in 3Q

Expanded-credit mortgages gained market share as total first-lien originations declined in the third quarter. Still, the sector accounted for only 1.1% of the total origination pie. (Includes data chart.) Read More

FHFA Reviewing GSE Loan Limits Following Record Jump for 2022

GSE loan limits will increase by 18.1% in 2022, with a threshold of nearly $1.0 million in high-cost areas, prompting the FHFA to evaluate the relationship between home price appreciation and loan limits. Read More

Employment Verification a Complicating Factor for QMs

The Structured Finance Association has developed a framework due diligence providers can use to help gauge QM compliance. A large chunk of the document focuses on verification of a borrower’s employment. Read More

Nonprime Servicing Portfolios Unchanged in Third Quarter

The amount of nonprime servicing handled by a group of 15 firms was essentially flat between the end of June and the end of September. Three of the top five firms in the sector saw their portfolios shrink. (Includes data chart.) Read More

Mortgages Make it into the NFT Space, Led by LoanSnap

With interest in non-fungible tokens booming this year, LoanSnap saw an opportunity to mint NFTs linked to mortgages. Read More

Non-Agency MBS Packed With Jumbos, GSE-Eligible IPLs

Non-agency MBS brought to the market in the past two weeks were primarily stocked with jumbo mortgages and GSE-eligible loans for investment properties. There were also a few expanded-credit deals. Read More

Expanded-Credit Lenders Offering ITIN Mortgages

Angel Oak is the latest expanded-credit lender to offer mortgages based on an individual tax identification number to individuals not eligible to obtain a Social Security number. Read More

News Briefs

UWM is offering its first non-QM product in years; the impairment rate on securitized non-QMs declined somewhat in October. Read More

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