Altisource Asset Management is now originating bridge loans and non-agency mortgages for investment properties. The firm has agreements to sell whole loans to insurance companies and asset managers.
The non-QM share of Impac’s originations increased significantly in 2022. Still, its margins declined due to competition among lenders for non-QMs and weak demand for the loans in the secondary market.
Rising interest rates and fickle demand in the secondary market made it difficult to originate non-QMs in 2022. The hope among industry participants is that volatility will recede.
Non-QM lenders and MBS issuers are making adjustments amid a volatile secondary market. Issues include timing for MBS issuance and competition for new production.
Among a group of 20 prominent nonprime servicers, portfolio balances increased by 0.3% during the fourth quarter of 2022. Prepayment rates on non-QMs are low and delinquencies are rising.
The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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