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Inside Nonconforming Markets

September 16, 2022

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Jumbo Correspondent Originations Jump in 2Q

The correspondent channel gained market share in the jumbo sector in the second quarter. The retail channel, though, remained the predominant source of jumbos, with strong competition in the channel among banks. (Includes data chart.) Read More

Non-Agency MBS Players Seek Standardization on Data

MISMO is getting close to releasing revised standards for data collection in the non-agency MBS market. The effort could prompt efficiencies for lenders, due diligence firms and rating services. Read More

Spreads on Expanded-Credit MBS Tighten Post Volatility

Spreads had steadily widened in the expanded-credit sector between February and July. But as spreads declined in August, demand for expanded-credit MBS appears to have improved. Read More

Shellpoint Tops Non-Agency MBS Servicers in Second Quarter

Shellpoint handled servicing on nearly 35% of the non-agency MBS issued in the second quarter of 2022. (Includes data chart.) Read More

Lenders Raise Loan Limits Ahead of FHFA, Again

A number of lenders have started offering conforming mortgages with balances as high as $715,000, even though the GSE loan limit is $647,200 through the end of this year. As with prior years, the lenders are anticipating higher loan limits for the GSEs next year. Read More

Non-Agency Lenders Roll Out Innovative Products

Newfi is offering a non-QM where the interest rate incrementally steps up annually for five years then remains fixed. Meanwhile, Milo launched a cash-out crypto mortgage, where borrowers pledge cryptocurrency in exchange for a loan as large as $5.0 million. Read More

Non-Agency MBS Investors Protected from Failing Lenders

Improvements to practices in the non-agency MBS market will help to protect investors from lenders that don’t make it through the current market contraction, according to Kroll Bond Rating Agency. Read More

News Briefs

Securitization from Unlock and Saluda Grade with home-equity agreements; NewRez offers 40-year mortgages with interest-only option; Fitch to acquire dv01; DBRS adds Clarifii to its list of due diligence providers. Read More

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