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Inside Nonconforming Markets

September 2, 2022

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Expanded-Credit Lending Holds Up in Tough Second Quarter

The expanded-credit mortgage sector bucked the trend and increased production in the second quarter. While some lenders significantly boosted originations, others recorded sharp declines. (Includes data chart.) Read More

Volatility in Non-QM Market Creating Opportunities for Some

Less-capitalized non-QM lenders struggled amid weak demand for the loans in the secondary market. Some firms are looking to take advantage of that weakness. Read More

GSE Second-Home Financing Drops in Second Quarter

Pricing increases that took effect in April reduced the volume of loans for second homes and conforming jumbos going to the GSEs. The “core” product share of GSE business also hit a high level in the second quarter. (Includes data chart.) Read More

Non-QM Originations Picking Up in Third Quarter

Non-QM lenders are regaining their footing as volatility in the secondary market recedes. And many potential non-QM borrowers are comfortable paying relatively high interest rates, helping to boost originations. Read More

Impairments on Non-QMs Increase for Second Consecutive Month

Impairments, which reflect delinquencies and modifications, increased on securitized non-QMs for a second consecutive month. In July, the performance of severely distressed borrowers also worsened. Read More

Nonprime Servicing Portfolios Grow Slightly in Second Quarter

Among the top 15 servicers of nonprime mortgages, portfolios increased slightly in the second quarter. Delinquencies, meanwhile, improved. (Includes data chart.) Read More

Promise of Non-Agency Market Questioned as Rates Rise

The non-agency market hasn’t lived up to the hype, according to Mat Ishbia of United Wholesale Mortgage, which saw a drop in non-agency lending. The overall sector, meanwhile, saw higher production and gained market share in the second quarter. Read More

News Briefs

Impac could be delisted; UWM offering HELOCS, including a piggyback option; Redwood “above average,” says Moody’s; CrossCountry launches bridge offering; Singapore-based lender offering jumbos in the U.S. with balances of up to $150 million for overseas investors. Read More

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