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Inside Nonconforming Markets

May 2, 2025

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Refis Boost Prime Non-Agency MBS in First Quarter

The volume of rate/term refis in prime non-agency MBS more than doubled compared with the fourth quarter of 2024. Still, purchase mortgages dominate issuance. Read More

Redwood’s Jumbo Business Booming

Redwood Trust had a 73% increase in jumbo lock volume for the first quarter, helped by seasoned loans sold by banks. Read More

SPS Retakes Lead Among Non-Agency MBS Servicers

Shellpoint Mortgage Servicing passed Newrez/Shellpoint with servicing tied to non-agency MBS issued in the first quarter. The bulk of SPS’ servicing is focused on expanded-credit mortgages. Read More

Annaly Seeing Resilient Demand for Non-Agency MBS

Annaly started marketing an expanded-credit MBS last month just as President Trump announced new tariffs. The deal went through at a spread that likely wouldn’t have been achievable as recently as three years ago. Read More

Rate Expands Non-Agency Offerings With Non-QMs

The nonbank launched a new product line with expanded-credit offerings for self-employed workers, asset-rich people, investors and buy-before-you-sell borrowers. Read More

Rithm’s Investment Portfolio Recovers in First Quarter

Rithm is both a buyer and seller of non-agency mortgages. Wider spreads in recent months have helped generate strong returns from loan acquisitions. Meanwhile, RTL production through its Genesis unit slowed during the first quarter. Read More

Northpointe Bank Increasing HELOC Production

The Michigan-based bank is putting an emphasis on a unique home equity line of credit product. Read More

News Briefs

Impairment rate on non-QMs declines; new issuers of home equity loan securitizations; bank offers new jumbo ARMs via wholesale channel; proprietary reverse-mortgage product from Liberty Reverse Mortgage. Read More

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