Cart

Inside Nonconforming Markets

October 28, 2022

View Archived Issues

Sharp Swings Among Expanded-Credit MBS Contributors

Issuance volume among some expanded-credit MBS contributors nearly doubled in the third quarter while others avoided the market. Issuers and lenders continue to face volatility in demand from MBS investors. (Includes three data charts.) Read More

Expanded-Credit Market Limping Along with Cautious Investors

Demand for non-QMs in the secondary market remains weak. Investors are concerned about the prepayment profile of the loans, among other issues. Read More

GSE Business Shifting Away from Non-Agency Areas

Activity at the GSEs is moving away from areas where the non-agency market could compete with Fannie Mae and Freddie Mac. Cash-out refi business could be the next category to take a hit as FHFA has directed the GSEs to increase upfront pricing. (Includes data chart.) Read More

First Republic Anticipating Ongoing Pressure on Margins

First Republic Bank isn’t increasing its interest rates for jumbo mortgages at the same pace that the Fed is increasing interest rates, leading to lower margins for the bank. Read More

Annaly Adjusts Amid Non-Agency Volatility

Annaly was the top issuer of non-agency MBS in the third quarter. The REIT had to retain more of its issuance than usual due to weak investor demand. Read More

Redwood Slows its Jumbo Business to a Crawl

Redwood acquisitions of jumbo mortgages declined by more than 70% on a sequential basis in the third quarter. Officials at the REIT suggested that Redwood will continue to limit loan acquisitions until market dynamics improve. Read More

Non-Agency MBS Issuance Slows to a Trickle

Only one deal hit the market in the past two weeks and the issuance pipeline isn’t looking particularly strong. Read More

News Briefs

Non-QM impairment rate increases in September; Angel Oak launches ETF with focus on non-agency MBS investments; new correspondent lender focusing on non-QMs; Go Mortgage offers non-QM construction loan. Read More

Latest Imf News

More Imf News

Featured Data

More Featured Data

Featured Reports

More Latest Reports

Featured Poll

As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

View Results