Originations of adjustable-rate mortgages declined by 4.8% from the third to the fourth quarter and by 13.7% for the full year 2021. Bank of America was the top ARM producer. The loans largely remain in portfolio. (Includes data chart.)
After more than a year of working to shift its focus, Altisource Asset Management is setting up an alternative lending group to originate and acquire non-QMs and other products.
For a flat fee of $1,000 per month, prospective homeowners can enter into equity-sharing agreements with Haus. The company also launched a blockchain-based coin offering for accredited investors.
Higher interest rates took a bite out of Angel Oak Mortgage’s profits in the fourth quarter, but its non-QM originations continue to remain strong. The firm also plans to maintain regular issuance of MBS.
Banks and thrifts held $2.23 trillion of first liens at the end of the year, up 1.7% from the end of September. Trends varied considerably among the megabanks. (Includes data chart.)
The firm boosted its originations of non-QMs during the fourth quarter, though company officials suggested loan production in the first quarter could decline.
It will be the 11th issuance of its type by loanDepot.
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