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Inside Nonconforming Markets

November 17, 2023

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Weak Demand Drags Jumbo Production Down in 3Q

High interest rates and tighter credit boxes led to a decrease in originations of non-agency jumbos in the third quarter of 2023. (Includes data table.) Read More

Angel Oak REIT Returns to Profitability in Third Quarter

A reduction in operating expenses and acquisitions of newly originated non-qualified mortgages helped Angel Oak’s mortgage REIT post an $8.3 million profit in the third quarter. Read More

Non-Agency Activity Boosts Ellington

Ellington Financial’s profits increased in the third quarter thanks to moves involving non-agency mortgages. Meanwhile, AG Mortgage Investment Trust took a loss in the quarter. Read More

Jumbo Servicing Portfolios Flat in 3Q

Chase remained the top servicer of jumbo mortgages in the third quarter of this year, followed by Wells Fargo. (Includes data table.) Read More

Rate Volatility Causes MFA to Post More Losses

MFA Financial’s CEO said the third quarter of 2023 was its toughest since the Federal Reserve began its rate-hiking cycle 20 months ago. Read More

Altisource Takes Another Loss Amid Review

Altisource Asset Management spilled $13.4 million of red ink in the third quarter, bringing its total losses to $23.9 million since the fourth quarter of 2022. Read More

Rising Debt and Rates May Hurt DSCR Performance

Student loan debt and rising interest rates are causing challenges for mortgages underwritten using debt service coverage ratios. Read More

Affluent Buyers Turn to All-Cash Offers

Affluent homebuyers are choosing all-cash deals over mortgage financing to avoid the high-interest rate environment. Read More

News Briefs

CFPB increases threshold to determine whether higher-priced mortgage loans are subject to special appraisal requirements; LoanStream licensed in Alaska; Upstart launches HELOC product; Valley National Bank launches HELOC for LMI borrowers. Read More

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