Cart

Inside Nonconforming Markets

January 13, 2023

View Archived Issues

Non-Agency MBS Issuance Fizzles in Fourth Quarter

Expanded-credit MBS issuance declined by nearly 50% in the fourth quarter compared with the previous quarter. Prime MBS issuance fared even worse, essentially freezing during the final months of the year. (Includes data chart.) Read More

Jumbo Market Loses Top Correspondent Producer in Wells

Wells Fargo was a major player in the jumbo correspondent channel, with a nearly 20% market share. A handful of banks have a strong presence in this category, while nonbank competitors have faced hurdles. Read More

Non-Agency MBS Market Lively in Early January

Non-agency MBS issuance perked up in early January as investor demand improved. Redwood Trust offered a jumbo MBS after a year-long lull in issuance and expanded-credit MBS issuers priced deals at tightening spreads. Read More

Non-QM Performance Declines for Third Straight Month

The impairment rate on securitized non-QMs posted its largest one-month jump in November since the early days of the pandemic. Hurricane Ian was a factor. Read More

FHFA to Seek Comments on New Products from GSEs

Going forward, the FHFA will seek public comments when the GSEs are looking to launch new activities or products. There are also some broad exceptions to the public notice standard. Read More

CFPB Policy Change Could Be End for Some Non-QMs

In October, new standards for qualified mortgages took effect. It turns out that a provision in the final rule also applies to non-QMs, which could limit originations of loans where lenders look at only a small number of a borrower’s bank statements. Read More

California Court Sets New Precedent on Default Charges

Efforts by the MBA and other industry participants to get the California Supreme Court to overturn a lower court’s ruling failed near the end of December. Servicers in the state are now limited on the amount default interest they can charge. Read More

News Briefs

Redwood raises funds through sale of preferred stock; lender focusing on non-QMs has national aspirations; new DSCR tool for borrowers. 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