Nearly 70% of the non-QMs originated in 2020 included an IO term, according to a new INM analysis. The top two lenders were banks. (Includes data chart.)
Chase’s nonprime servicing portfolio increased tenfold to $44.40 billion at the end of March. The spike was due to a change in the way the bank reports numbers and not because of an influx of new servicing. (Includes data chart.)
An estimated $8.60 billion of non-qualified mortgages and other expanded-credit products were originated in the first quarter. But the sector’s market share was still below 1.0%. (Includes data chart.)
Nomura is set to enter the market with a deal backed by non-agency mortgages for investment properties while two other issuers also have deals with newer non-QMs. There’s also a rare non-agency MBS with jumbo reverse mortgages.
The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.
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