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Inside Nonconforming Markets

March 1, 2024

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Expanded-Credit Sector Gains Some Market Share

Originations of expanded-credit mortgages declined at a slower pace than total first-lien originations last year. Citi was the top ECM lender in 2023 even though its production was off 8.3% from a year ago. (Includes data table.) Read More

Non-Agency Products Garner Interest From New Investors

Insurance companies and European investors have shown a growing interest in MBS backed by expanded-credit mortgages. However, there is not enough supply to meet demand. Read More

Housing Experts Call for Non-Agency Standardization

Ed DeMarco, the former acting director of the FHFA, was among a handful of panelists at the SFVegas conference this week who called for more standardization in the non-agency MBS market. Read More

Nonprime Servicing Portfolios Grow; Delinquencies Up

Select Portfolio Servicing remained the largest nonprime mortgage servicer at the end of 2023. Delinquencies in the sector are climbing. (Includes data table.) Read More

HEI Market Hopes to Add New Investors

Home equity investments have seen considerable homeowner interest due to high interest rates, but industry participants said more investor support is needed to meet homeowner demand. Read More

Redwood Gets Boost From Bank Partnerships

Redwood reported $21 million in net income in the fourth quarter, bouncing back after posting a $31 million loss in the third quarter. Read More

Fitch, dv01 Develop New Non-Agency MBS Benchmark

New benchmarks point to improved underwriting standards compared with collateral in non-agency MBS prior to the financial crisis of 2008. Read More

FICO Score 10 T Gets Another Early Adopter

Premier Lending will use the new FICO 10 T scoring model for its nonconforming originations. Read More

News Briefs

Finance of America to issue MBS backed by jumbo reverse mortgages; Aslan teams with Calque; 5th Street Capital licensed in Wyoming. Read More

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