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    <title>Inside Nonconforming Markets</title>
    <description></description>
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    <item>
      <title>Non-Agency Jumbo Lending Increases in Second Quarter</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Non-agency jumbo mortgage production increased by 25.0% on a quarterly basis in the second quarter to an estimated $90.00 billion. (Includes data table.)</description>
      <content:encoded>
        <![CDATA[Non-agency jumbo mortgage production increased by 25.0% on a quarterly basis in the second quarter to an estimated $90.00 billion. (Includes data table.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238361</guid>
      <pubDate>Fri, 28 Aug 2026 15:00:31 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238361-non-agency-jumbo-lending-sees-increase-in-second-quarter</link>
    </item>
    <item>
      <title>Changes to GSE Condo Rules Could Boost Non-QM Market</title>
      <author>azimmardi@imfpubs.com</author>
      <description>With stricter condo lending requirements at the government-sponsored enterprises, more projects may be considered non-warrantable, pushing more business to the non-agency side of the market.</description>
      <content:encoded>
        <![CDATA[With stricter condo lending requirements at the government-sponsored enterprises, more projects may be considered non-warrantable, pushing more business to the non-agency side of the market.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238398</guid>
      <pubDate>Fri, 28 Aug 2026 14:59:36 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238398-gse-condo-changes-could-shift-more-business-to-non-qm-space</link>
    </item>
    <item>
      <title>Velocity to Acquire Toorak’s Operating Platform</title>
      <author>azimmardi@imfpubs.com</author>
      <description>The $3.2 billion all-cash transaction is expected to close in the fourth quarter.</description>
      <content:encoded>
        <![CDATA[The $3.2 billion all-cash transaction is expected to close in the fourth quarter.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238401</guid>
      <pubDate>Fri, 28 Aug 2026 14:58:38 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238401-velocity-to-acquire-tooraks-operating-platform</link>
    </item>
    <item>
      <title>Jumbo Servicing Volume Increases in Second Quarter</title>
      <author>azimmardi@imfpubs.com</author>
      <description>The volume of jumbo mortgages handled by 30 major servicers increased by 1.1% from the end of March to the end of June. (Includes data table.)</description>
      <content:encoded>
        <![CDATA[The volume of jumbo mortgages handled by 30 major servicers increased by 1.1% from the end of March to the end of June. (Includes data table.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238389</guid>
      <pubDate>Fri, 28 Aug 2026 14:57:39 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238389-jumbo-servicing-volume-steadily-increases-in-2q</link>
    </item>
    <item>
      <title>Figure Plans to Standardize RTLs With Kiavi Acquisition</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Figure Technology Solutions is on track to close the Kiavi acquisition in the second half of 2026 and plans to use its technology to develop standardization for the residential transition loan space.</description>
      <content:encoded>
        <![CDATA[Figure Technology Solutions is on track to close the Kiavi acquisition in the second half of 2026 and plans to use its technology to develop standardization for the residential transition loan space.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238353</guid>
      <pubDate>Fri, 28 Aug 2026 14:56:43 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238353-figures-plans-to-standardize-rtls-with-kiavi-acquisition</link>
    </item>
    <item>
      <title>Federal Judge Denies Unison’s Request to Pause Litigation</title>
      <author>azimmardi@imfpubs.com</author>
      <description>The judge rejected three arguments by the company to pause a lawsuit regarding Unison’s home equity investment practices.</description>
      <content:encoded>
        <![CDATA[The judge rejected three arguments by the company to pause a lawsuit regarding Unison’s home equity investment practices.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238374</guid>
      <pubDate>Fri, 28 Aug 2026 14:54:44 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238374-federal-judge-denies-unisons-request-to-pause-litigation</link>
    </item>
    <item>
      <title>Asset-Depletion Loans Keep Luxury Real Estate Market Moving</title>
      <author>azimmardi@imfpubs.com</author>
      <description>While asset-depletion loans were an afterthought for almost every non-QM lender two years ago, now almost all of them are adding the product.</description>
      <content:encoded>
        <![CDATA[While asset-depletion loans were an afterthought for almost every non-QM lender two years ago, now almost all of them are adding the product.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238390</guid>
      <pubDate>Fri, 28 Aug 2026 14:53:45 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238390-asset-depletion-loans-help-move-luxury-real-estate-market</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Easy Street Capital launches new portal; non-qualified mortgage impairments rose in July; Friday Harbor expands AI pre-underwriting to bank statement and jumbo loans; Carrington Mortgage Services tweaks its non-QM program.</description>
      <content:encoded>
        <![CDATA[Easy Street Capital launches new portal; non-qualified mortgage impairments rose in July; Friday Harbor expands AI pre-underwriting to bank statement and jumbo loans; Carrington Mortgage Services tweaks its non-QM program.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238402</guid>
      <pubDate>Fri, 28 Aug 2026 14:52:48 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238402-news-briefs</link>
    </item>
    <item>
      <title>Chase Non-Agency RMBS Servicing Rebounds in 2Q </title>
      <author>azimmardi@imfpubs.com</author>
      <description>JPMorgan Chase was the only servicer among the top five that handled new servicing on non-agency mortgage-backed securities to post a quarterly increase during the second quarter. (Includes data table.)</description>
      <content:encoded>
        <![CDATA[JPMorgan Chase was the only servicer among the top five that handled new servicing on non-agency mortgage-backed securities to post a quarterly increase during the second quarter. (Includes data table.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238245</guid>
      <pubDate>Fri, 14 Aug 2026 12:37:36 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238245-chases-non-agency-mbs-servicing-increases-in-2q</link>
    </item>
    <item>
      <title>HomeXpress Boosts Profits, Increases Originations</title>
      <author>azimmardi@imfpubs.com</author>
      <description>HomeXpress Mortgage originated $1.1 billion of loans during the second quarter of 2026 and posted a profit of $8.7 million.</description>
      <content:encoded>
        <![CDATA[HomeXpress Mortgage originated $1.1 billion of loans during the second quarter of 2026 and posted a profit of $8.7 million.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238229</guid>
      <pubDate>Fri, 14 Aug 2026 12:36:34 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238229-homexpress-turns-profit-in-2q-increases-originations</link>
    </item>
    <item>
      <title>Genesis, Lima One Increase RTL Originations in 2Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>The residential transition loan units of Newrez and MFA Financial generated solid growth during the second quarter.</description>
      <content:encoded>
        <![CDATA[The residential transition loan units of Newrez and MFA Financial generated solid growth during the second quarter.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238251</guid>
      <pubDate>Fri, 14 Aug 2026 12:35:33 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238251-rtl-lenders-report-strong-2q-momentum</link>
    </item>
    <item>
      <title>Fraud Risk Elevated for Non-QMs as Sector Expands </title>
      <author>azimmardi@imfpubs.com</author>
      <description>An industry attorney suggested safeguards warehouse lenders and non-qualified mortgage originators should take to protect themselves from fraud.</description>
      <content:encoded>
        <![CDATA[An industry attorney suggested safeguards warehouse lenders and non-qualified mortgage originators should take to protect themselves from fraud.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238259</guid>
      <pubDate>Fri, 14 Aug 2026 12:34:31 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238259-non-qm-fraud-risk-grows-alongside-growth-of-the-sector</link>
    </item>
    <item>
      <title>Angel Oak REIT Turns a Profit in Second Quarter</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Angel Oak Mortgage REIT posted a $3.4 million profit in the second quarter after taking a $7.4 million loss in the first quarter.</description>
      <content:encoded>
        <![CDATA[Angel Oak Mortgage REIT posted a $3.4 million profit in the second quarter after taking a $7.4 million loss in the first quarter.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238226</guid>
      <pubDate>Fri, 14 Aug 2026 12:33:29 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238226-angel-oak-reit-turns-profit-in-2q</link>
    </item>
    <item>
      <title>GSE Activity Diverges in 2Q With IPLs Down, Jumbos Up</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Securitization of mortgages for investment properties at the government-sponsored enterprises declined while conforming jumbo business increased. (Includes data table.)</description>
      <content:encoded>
        <![CDATA[Securitization of mortgages for investment properties at the government-sponsored enterprises declined while conforming jumbo business increased. (Includes data table.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238272</guid>
      <pubDate>Fri, 14 Aug 2026 12:32:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238272-gse-activity-splits-in-2q-with-ipls-jumbos</link>
    </item>
    <item>
      <title>Morgan Stanley Faces Allegations on Jumbo Lending</title>
      <author>azimmardi@imfpubs.com</author>
      <description>A former Morgan Stanley employee has claimed the bank systemically pressures its staff to approve mortgages for wealthy clients, even when they don’t qualify.</description>
      <content:encoded>
        <![CDATA[A former Morgan Stanley employee has claimed the bank systemically pressures its staff to approve mortgages for wealthy clients, even when they don’t qualify.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238268</guid>
      <pubDate>Fri, 14 Aug 2026 12:31:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238268-morgan-stanley-opposes-whistleblower-complaint</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Unlock Partnership Solutions to pay nearly a million dollars in relief to Minnesota consumers; non-QM performance deteriorates in June.</description>
      <content:encoded>
        <![CDATA[Unlock Partnership Solutions to pay nearly a million dollars in relief to Minnesota consumers; non-QM performance deteriorates in June.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238274</guid>
      <pubDate>Fri, 14 Aug 2026 12:30:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238274-news-briefs</link>
    </item>
    <item>
      <title>Prime Non-Agency MBS Issuance Drops in 2Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Issuance of prime non-agency mortgage-backed securities cooled off somewhat in the second quarter of 2026, but remained elevated on an annual basis. (Includes three data tables.)</description>
      <content:encoded>
        <![CDATA[Issuance of prime non-agency mortgage-backed securities cooled off somewhat in the second quarter of 2026, but remained elevated on an annual basis. (Includes three data tables.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238125</guid>
      <pubDate>Fri, 31 Jul 2026 14:26:08 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238125-prime-non-agency-mbs-issuance-drops-in-second-quarter-of-2026</link>
    </item>
    <item>
      <title>Annaly’s Non-Agency Momentum Continues in 2Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Annaly Capital Management nearly tripled its profit from the first to the second quarter as it leaned into its residential credit business.</description>
      <content:encoded>
        <![CDATA[Annaly Capital Management nearly tripled its profit from the first to the second quarter as it leaned into its residential credit business.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238096</guid>
      <pubDate>Fri, 31 Jul 2026 14:10:44 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238096-annaly-continues-non-agency-momentum-in-2q</link>
    </item>
    <item>
      <title>Redwood 2Q Loss Narrows; Aspire’s Lock Volume Up</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Redwood Trust posted another quarter of losses in the second quarter tied to its efforts to wind down legacy assets, including multifamily bridge loans investments.</description>
      <content:encoded>
        <![CDATA[Redwood Trust posted another quarter of losses in the second quarter tied to its efforts to wind down legacy assets, including multifamily bridge loans investments.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238137</guid>
      <pubDate>Fri, 31 Jul 2026 14:08:46 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238137-redwood-posts-loss-in-q2-aspires-lock-volume-grows</link>
    </item>
    <item>
      <title>Pennymac REIT Shifts Focus of Correspondent Production</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Pennymac Mortgage Investment Trust has seen success in its private-label securitization program causing it to stop acquiring agency-eligible, conventional-conforming loans through correspondent production.</description>
      <content:encoded>
        <![CDATA[Pennymac Mortgage Investment Trust has seen success in its private-label securitization program causing it to stop acquiring agency-eligible, conventional-conforming loans through correspondent production.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238146</guid>
      <pubDate>Fri, 31 Jul 2026 14:07:48 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238146-pennymac-reit-shifts-to-acquire-only-non-agency-correspondent-production</link>
    </item>
    <item>
      <title>Outlook of Securitized HEIs Weak Once Pools Season</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Morningstar DBRS analyzed how securitizations of home equity investments fared against home price appreciation.</description>
      <content:encoded>
        <![CDATA[Morningstar DBRS analyzed how securitizations of home equity investments fared against home price appreciation.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238142</guid>
      <pubDate>Fri, 31 Jul 2026 14:06:12 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238142-performance-outlook-of-securitized-heis-not-strong-as-pools-season</link>
    </item>
    <item>
      <title>Lenders Expand Non-QM Business as Sector Grows</title>
      <author>azimmardi@imfpubs.com</author>
      <description>More lenders are entering the non-qualified mortgage space or expanding their non-agency product offerings.</description>
      <content:encoded>
        <![CDATA[More lenders are entering the non-qualified mortgage space or expanding their non-agency product offerings.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238143</guid>
      <pubDate>Fri, 31 Jul 2026 14:04:53 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238143-lenders-expand-non-qm-suites-as-sector-grows</link>
    </item>
    <item>
      <title>Adamas Acquires Record Amount of BPLs in 2Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Adamas Trust acquired $632 million of business-purpose loans during the second quarter of 2026 and completed two BPL-rental securitizations.</description>
      <content:encoded>
        <![CDATA[Adamas Trust acquired $632 million of&nbsp;business-purpose loans during the second quarter of 2026 and completed two BPL-rental securitizations.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238140</guid>
      <pubDate>Fri, 31 Jul 2026 14:03:55 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238140-adamas-acquires-record-amount-of-bpls-in-2q</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Gershman Mortgage launches HELOC product; HighTechLending enhanced HELOC offering; Truss Financial Group launches a debt service coverage ratio HELOC; Movement Mortgage launches ITIN product.</description>
      <content:encoded>
        <![CDATA[Gershman Mortgage launches HELOC product; HighTechLending enhanced HELOC offering; Truss Financial Group launches a debt service coverage ratio HELOC; Movement Mortgage launches ITIN product.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238147</guid>
      <pubDate>Fri, 31 Jul 2026 14:02:58 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238147-news-briefs</link>
    </item>
    <item>
      <title>Expanded-Credit MBS Issuance Declines in 2Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Issuance of expanded-credit mortgages declined by 4.8% on a quarterly basis in the second quarter, with purchase-mortgage volume down. (Includes three data charts.)</description>
      <content:encoded>
        <![CDATA[Issuance of expanded-credit mortgages declined by 4.8% on a quarterly basis in the second quarter, with purchase-mortgage volume down. (Includes three data charts.)]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/237988</guid>
      <pubDate>Fri, 17 Jul 2026 11:10:43 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/237988-ecm-mbs-issuance-drops-driven-by-decline-in-purchase-mortgages</link>
    </item>
    <item>
      <title>Lack of Uniformity Among BPLs an Issue for Servicers</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Servicers of business purpose loans noted challenges handling the asset class due to the customizable structure of the loans.</description>
      <content:encoded>
        <![CDATA[Servicers of business purpose loans noted challenges handling the asset class due to the customizable structure of the loans.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238003</guid>
      <pubDate>Fri, 17 Jul 2026 11:08:44 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238003-servicers-cite-several-challenges-in-the-bpl-space</link>
    </item>
    <item>
      <title>Home Equity Lender Button Finance Expands Into Non-QMs</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Founded in 2019, New York-based Button Finance originally planned to focus on home equity lending, but is now branching out into non-qualified mortgages.</description>
      <content:encoded>
        <![CDATA[Founded in 2019, New York-based Button Finance originally planned to focus on home equity lending, but is now branching out into non-qualified mortgages.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238006</guid>
      <pubDate>Fri, 17 Jul 2026 11:07:45 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238006-button-finance-scales-into-non-qm</link>
    </item>
    <item>
      <title>HEI Legislation Under Consideration in Congress</title>
      <author>azimmardi@imfpubs.com</author>
      <description>If passed, the Home Equity Lending Integrity Act would regulate home equity investment products, including subjecting HEIs to requirements under the Truth in Lending Act.</description>
      <content:encoded>
        <![CDATA[If passed, the Home Equity Lending Integrity Act would regulate home equity investment products, including subjecting HEIs to requirements under the Truth in Lending Act.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/237985</guid>
      <pubDate>Fri, 17 Jul 2026 11:06:46 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/237985-home-equity-lending-integrity-act-could-regulate-heis-at-federal-level</link>
    </item>
    <item>
      <title>Non-QM Performance Continues to Drag</title>
      <author>azimmardi@imfpubs.com</author>
      <description>Impairments on non-qualified mortgages rose on a monthly basis in May, driven by higher new impairments and weaker cure and made payment rates, according to dv01.</description>
      <content:encoded>
        <![CDATA[Impairments on non-qualified mortgages rose on a monthly basis in May, driven by higher new impairments and weaker cure and made payment rates, according to dv01.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/237998</guid>
      <pubDate>Fri, 17 Jul 2026 11:04:48 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/237998-non-qm-performance-drags-in-may</link>
    </item>
    <item>
      <title>RTL Lending Rebounds, Strong Volume in June</title>
      <author>azimmardi@imfpubs.com</author>
      <description>June’s growth follows a period of stagnation as bridge lending volume flattened out at the end of 2025 and into early 2026.</description>
      <content:encoded>
        <![CDATA[June’s growth follows a period of stagnation as bridge lending volume flattened out at the end of 2025 and into early 2026.]]>
      </content:encoded>
      <guid>http://www.insidemortgagefinance.com/articles/238009</guid>
      <pubDate>Fri, 17 Jul 2026 11:03:53 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/238009-rtl-lending-is-strong-in-june</link>
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