Issuance of prime non-agency MBS nearly ground to a halt during the fourth quarter. For the full year, activity was down almost 60%. (Includes three data charts.)
Shellpoint Mortgage Servicing handled servicing duties on close to 50% of the non-agency MBS issued in the fourth quarter. Select Portfolio Servicing reduced its activity during the quarter. (Includes data chart.)
Rising interest rates and financial volatility battered the non-QM market in 2022. This year almost has to be better by default, according to industry participants.
Can nonbanks become significant players in the HELOC market and ride MBS execution to a new wave of dominance? Due diligence firms that facilitate such transactions hope so.
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