Since 2015, Angel Oak Capital Advisors has completed seven non-QM securitizations...

Data-based technological innovations are creating more opportunities for lenders to assess the risks posed by consumers who have traditionally been denied access to credit. While the conversation on exploring alternative data has been ongoing for the past few years, the industry now appears to be taking steps toward making this a reality.

Nonbank online lenders, especially smaller ones, are concerned about the high cost of originating a loan. In a new study published by the Deloitte Center for Financial Services and Lendit Fintech, 77 percent of the nonbank respondents said the cost of funding is among their top three concerns. Thirty-eight percent listed it as their first concern. Deloitte noted the nonbank fintech market landscape is made up of a few large players and many small ones. In fact, the majority of survey participants ...

As refinance business declines, the government-sponsored enterprises are stepping up efforts to help lenders produce more volume in other areas. At the California Mortgage Bankers Association’s secondary market conference this week in San Francisco, officials from Fannie Mae and Freddie Mac touted various efforts to help lenders and ultimately prop up GSE MBS issuance.

Slightly over half were deals backed by newly originated mortgages…

Don Brown of Optimal Blue: The industry is “at or near a high-water mark” in terms of the number of mortgage investors.

Rick Sharga of Carrington: “Refi volumes will continue to contract, and lenders will have to accelerate their shift towards more purchase business in order to maintain volume.”

Fannie Mae, Freddie Mac and Ginnie Mae saw a somewhat sedated increase in single-family mortgage-backed security issuance during the second quarter. The trends closely tracked forecasts. Agency purchase-mortgage business was up a solid 24.5 percent from the first quarter, boosting the 2018 market slightly ahead of where it was at the midway point last year. And refinance activity continued to tumble, dropping 21.3 percent from the first quarter to just ... [Includes two data charts]

The sale of bulk mortgage servicing portfolios stayed red hot in the second quarter, with buyer interest and prices remaining high, but a modest lull in activity may be on the way, according to interviews conducted this week by Inside Mortgage Trends. Servicing brokers polled by this newsletter said there’s roughly $28 billion worth of receivables currently in the market that are ready to change hands. This includes a roughly $10 billion package of servicing rights that has been ...

With mortgage production costs exceptionally high, a number of lenders are outsourcing certain functions. Christopher George, president and CEO of CMG Financial, said the lender moved some operations offshore via outsourcing. “There are some areas where we can do business substantially cheaper and not compromise quality,” he said this week at the California Mortgage Bankers Association’s secondary market conference. George said two years ago, CMG had 161 ...