Non-QMs offer the promise of strong margins and a product to replace refinance volume. They also account for a miniscule portion of mortgage originations.

We pointed it out before, but the situation has not changed: Nonbanks that went public over the past 16 months are not doing well when it comes to share price. As for meaning: Such a performance does not bode well for other nonbanks contemplating life in the public realm.

There is still plenty of business to be done in the agency market, but jumbo and ECM lending were the sectors that saw growth from the second to the third quarter. (Includes two data charts.)

The fix-and-flip market is starting to look a little long in the tooth. Right? Maybe for some corporate investors. But for originators of these short-term loans, the grass still looks green.

Profits (and profitability) drive the decision to sell a mortgage company. Several lender/servicers are at an inflection point or soon will be. In sum, the rest of 2021 should be interesting.

JPM upped its MSR portfolio by roughly $45 billion in 3Q21. Good thing because the asset is rising in value. Will other commercial banks follow suit?

Trade groups run a victory lap over the Biden administration decision to end Trump-era restrictions on the GSEs.

Non-QM lenders believe the market is going to grow. The optimism has yet to be reflected in market share, but there’s always next year.

It’s assumed that third-quarter originations will be down compared to 1Q and 2Q, but lenders remain sanguine about the short term. Also, some are finding solace in non-QM production.

Jumbo mortgages and non-qualified mortgages can generate better margins than agency products. Still, the loans don’t necessarily offer a guaranteed path to profits.