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Inside Nonconforming Markets

November 23, 2022

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Non-Agency Jumbo Lending Takes a Hit as Interest Rates Rise

Originations of non-agency jumbo mortgages declined by 34.8% from the second to the third quarter, driven by rising interest rates. The decline in the jumbo sector was largely in line to trends in the mortgage market. (Includes data chart.) Read More

Jumbo Servicing Portfolios Increase Slightly in 3Q22

Despite a drop in jumbo originations, servicing portfolios at many shops increased during the third quarter. Top-ranked Wells Fargo saw its jumbo servicing portfolio go up by less than 1%, while second-ranked Chase did slightly better at 2.6%. (Includes data chart.) Read More

Commercial Lender Decides to Enter the Non-QM Arena

Stronghill Capital of Austin, TX, has launched a new residential lending division that will focus on non-qualified mortgages, non-agency jumbos and loans for investment purposes. This comes at a time when the rest of the non-agency sector is caving in. Read More

WMC Spills Red Ink, Reports Zero Non-QM Acquisitions in 3Q

Western Asset Mortgage Capital is in the middle of a strategic review that could result in a sale or merger of the real estate investment trust. Read More

JPM to Issue First Non-Prime MBS Backed by DSCR Loans

JPMorgan Chase is rolling out its first non-prime mortgage-backed security stocked solely with investment-property loans underwritten using debt service coverage ratios. Chase so far has focused on prime borrowers. Read More

A&D Mortgage Readies Its 7th Non-QM Deal of the Year

The latest expanded-credit MBS from the Hollywood, FL-based lender is smaller than previous transactions from the firm. Read More

More Non-Agency Mortgage Originators Report 3Q Loss

Facing continuous losses, Altisource Asset Management has tightened its underwriting standards. Meanwhile, management at AG Mortgage Investment Trust believes there will be opportunities at both the origination and aggregation level in the non-agency market. Read More

News Briefs

JMP Securities initiates coverage of fix-and-flip lender Sachem Capital; S&P Global Ratings agrees to pay a $2.5 million penalty to the SEC; NYSE approves Impac’s compliance plan. Read More

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