Subprime Mortgages

Browse articles from all of our Newsletters related to Subprime Mortgages.

July 13, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


July 13, 2018 - Inside Nonconforming Markets

Higher-Priced Lending Up by 20.1 Percent in 2017

Originations of higher-priced conventional mortgages increased by 20.1 percent on an annual basis to $36.01 billion in 2017, according to a new ranking and analysis by Inside Nonconforming Markets of data from the Home Mortgage Disclosure Act. Higher-priced mortgages are loans that have an annual percentage rate higher than a threshold for the “average prime offer rate” on a comparable mortgage. First-lien mortgages with an APR ... [Includes two data charts]


July 13, 2018 - Inside Nonconforming Markets

Verus Goes Big with Nonprime MBS

An affiliate of Verus Mortgage Capital is set to issue what will be the largest post-crisis nonprime MBS to date. The planned $489.6 million issuance will top a $426.2 million deal issued by Lone Star Funds in September. The types of mortgages in the latest Verus MBS are similar to those in a $249.0 million deal the firm issued in January, though the average loan balance in the new MBS is somewhat larger. Mortgages in the new deal have an average unpaid principal balance of ...


July 13, 2018 - Inside Nonconforming Markets

Non-Agency MBS Issuance Backed by New Production Hits Another Quarterly Record

Issuance of non-agency mortgage-backed securities reached a third straight post-crisis quarterly record during the recently completed April-June cycle, according to a new ranking and analysis by Inside Nonconforming Markets. A total of $10.03 billion of non-agency MBS backed by new jumbo and expanded-credt originations was issued in the second quarter. The previous quarterly record was $6.28 billion in the first quarter of 2018. And in ... [Includes one data chart]


June 29, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


June 29, 2018 - Inside Nonconforming Markets

News Briefs

Redwood Trust raised $194.0 million this week with the sale of convertible senior notes. Redwood said it will use the proceeds for various business and investment activities. The Capital Corps will launch a non-qualified mortgage program later this year. “The Capital Corps’ nontraditional prime borrowers come from the estimated $100.0 billion of homeowners seeking mortgages with loan-to-value ratios of less than 65.0 percent who are turned ... [Includes three briefs]


June 29, 2018 - Inside Nonconforming Markets

GSE Nonprime Holdings Continue to Shrink

Fannie Mae and Freddie Mac holdings of nonprime mortgage assets continued to decline in the first quarter of 2018, although changes in how the two government-sponsored enterprises report this data make comparisons to earlier periods difficult. Fannie reported $3.42 billion fair market value of its nonprime MBS holdings as of the end of March, though this appears to result from moving some of these assets from its available-for-sale portfolio to ... [Includes one data chart]


June 29, 2018 - Inside Nonconforming Markets

MBS Issuance Ramps up Near Quarter End

Several non-agency mortgage-backed securities closed before the end of the second quarter. A nonprime deal in the works from Verus Mortgage Capital could be issued early in the third quarter. JPMorgan Chase closed two non-agency MBS in June: a $938.2 million issuance backed by loans from Chase and other originators and a $490.5 million deal backed by a variety of seasoned mortgages originated by First Republic Bank. Some 59.2 percent of the mortgages in the larger Chase deal ...


June 15, 2018 - Inside Nonconforming Markets

Average Jumbo Mortgage Interest Rates and Mortgage Performance

A page of jumbo data and the performance of non-agency mortgage-backed securities.


June 15, 2018 - Inside Nonconforming Markets

Non-QMs Prepay Faster than Legacy Non-Agency

Prepayment rates on non-qualified mortgages are higher than the rates seen on legacy non-agency mortgages and performance for new production is better, according to industry analysts. “Nonprime non-QM loans have exhibited high voluntary prepayment speeds, resulting from credit curing and high initial mortgage interest rates,” analysts at Deutsche Bank Securities said. The voluntary prepayment rate on non-QM mortgage-backed securities ... [Includes one data chart]


June 15, 2018 - Inside Nonconforming Markets

Originations of Expanded-Credit Mortgages Increase in First Quarter, Bucking Industry

Expanded-credit products look to be a ray of sunshine in an otherwise gloomy mortgage market. Originations of the loans increased in the first quarter of 2018 while production in many other product categories declined, according to a new ranking and analysis by Inside Nonconforming Markets. An estimated $10.1 billion of expanded-credit mortgages were originated in the first quarter of 2018, up 3.1 percent from the previous quarter and a 13.5 percent ... [Includes one data chart]


Poll

With mortgage production down noticeably this year from 2017, how many lenders might disappear via M&A or failure during the next 12 months?

10% or less. It’s not that bad out there.
11% to 25%. It’s a challenging market.
25% to 40%. It’s going to be very ugly.
No opinion.

vote to see results