An increase in the number of borrowers with non-traditional income sources has led more lenders to consider automated and AI-based underwriting practices, according to Ocrolus, a tech vendor.
The Federal Reserve’s push to run MBS off of its balance sheet may cause interest rates to stay high even after quantitative tightening measures cease.
Hildene Capital Management formed a “strategic relationship” with CrossCountry Mortgage in late 2022, with the lender delivering non-QMs to the asset manager for securitization.
High interest rates and tighter credit boxes led to a decrease in originations of non-agency jumbos in the third quarter of 2023. (Includes data table.)
A reduction in operating expenses and acquisitions of newly originated non-qualified mortgages helped Angel Oak’s mortgage REIT post an $8.3 million profit in the third quarter.