July 25, 2025

Expanded-Credit MBS Issuance Up in Second Quarter

Expanded-credit MBS issuance rose by 25.4% from the first quarter to the second quarter, with mortgages for self-employed borrowers, interest-only loans and refinances driving the increase. (Includes three data tables.) Read More

Annaly Tightens Non-Agency Underwriting Standards

The shift comes amid a slowdown in home price appreciation. Officials at the REIT said aggregation volume remains steady. Read More

Non-Agency Lenders Cautious Following Appraisal Issues

As whispers of mortgage fraud are hitting Baltimore and surrounding markets, some lenders are acting with caution. Read More

PennyMac Dedicated to Non-Agency MBS Despite Volatility

PennyMac continues to push ahead with non-agency MBS issuance despite volatility during the second quarter. Read More

Royal Business Bank Focusing on Non-QM Loans

In a rare move for a bank, the majority of Royal Business Bank’s mortgages are non-QMs. The bank is headquartered in Los Angeles and operates across six states. Read More

NYMT Acquires BPL Lender Constructive Loans

New York Mortgage Trust acquired the business-purpose loan originator last week, after already owning a stake in the company. Read More

Lenders Losing Some Market Share Among Foreign Buyers

International buyers purchasing properties in the U.S. increasingly are turning to options other than non-agency mortgages, according to the National Association of Realtors. Read More

News Briefs

Douglas Elliman Real Estate launches in-house mortgage platform; Rithm Capital partners with institutional investor to fund RTLs; Roc360 raises funds for BPL acquisitions; Fidelis Investors issues second RTL securitization. Read More

Inside Nonconforming Markets

View Archived Issues

Expanded-Credit MBS Issuance Up in Second Quarter

Annaly Tightens Non-Agency Underwriting Standards

Non-Agency Lenders Cautious Following Appraisal Issues

PennyMac Dedicated to Non-Agency MBS Despite Volatility

Royal Business Bank Focusing on Non-QM Loans

NYMT Acquires BPL Lender Constructive Loans

Lenders Losing Some Market Share Among Foreign Buyers

News Briefs

Latest Imf News

Mortgage Buyback Activity at Banks Down Somewhat in 3Q

NCRC Launches Fair Lending Tip Line

Locks for Refis Trail Off in November

Citi Broadens Prime Non-Agency MBS Issuance With Higher LTV Ratios

Featured Data

Nonbanks Post Small Drop in Mortgage-Banking Income

Bank MSR Portfolios Shrink Slightly, Valuation Strong

Bank ABS Holdings Decline in 3Q25, Auto Portfolios Grow

Lending Slows Across Products in Third Quarter

Featured Reports

Lender Profiles 2Q25: Top 25 (PDF)

GSE Repurchase Activity: Cumulative to Second Quarter 2025 (PDF Format)

Mortgage Profitability Report 2Q25 (PDF)

IMF HMDA Dashboard: 2024

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?

Inside Nonconforming Markets

July 25, 2025

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?