| Inside Mortgage Finance

Jumbo Lending Down Slightly in 1Q19, Market Share Up

Originations of non-agency jumbo mortgages declined by 1.5% in the first quarter though the sector gained some market share as total first-lien originations fell by an even greater amount.

Expanded-Credit Production Falls Again in 1Q19

Expanded-credit mortgage originations declined for the second consecutive quarter at the end of March. Demand from borrowers was down but lenders remain optimistic about the sector.

FHFA Wants to Help Non-Agency Market

FHFA Director Mark Calabria plans to take steps to help non-agency market players better compete with the government-sponsored enterprises. However, lowering conforming loan limits isn’t part of the plan.

MBA Wants Jumbos to be Eligible for QM Patch

The trade group is urging the CFPB to allow jumbos to receive qualified mortgage status even if the loans have debt-to-income ratios greater than 43%. The pending expiration of the QM patch has also prompted a back-and-forth among think tanks.

Impac Maintaining Non-QM Standards Amid Competition

The lender isn’t loosening underwriting standards on non-qualified mortgages to boost volume but will compete on pricing instead. Read More

MBS Backed by Investment Properties Gaining Traction

Chase and Chimera are set to issue separate non-agency MBS backed by mortgages for investment properties, following similar deals from a handful of other firms.

Carrington Prepping Non-QM MBS with 58% Cash-Out Refis

Carrington Mortgage Services is prepping its first MBS backed by non-qualified mortgages, which differ from loans in expanded-credit products from other issuers.

New Issuer Set to Join Expanded-Credit MBS Market

An affiliate of Angelo Gordon plans to enter the non-agency MBS market with a deal backed by non-QMs. Western Asset Management priced one of the largest expanded-credit MBS and more deals are in the works.

Maxex Mortgage Exchange Receives Funding from AGNC

Maxex recently completed a round of funding, taking the amount of capital it has raised since 2012 to more than $90 million. The company connects buyers and sellers of jumbo mortgages.

News Briefs

Inside Nonconforming Markets

May 24, 2019

View Archived Issues

Jumbo Lending Down Slightly in 1Q19, Market Share Up

Expanded-Credit Production Falls Again in 1Q19

FHFA Wants to Help Non-Agency Market

MBA Wants Jumbos to be Eligible for QM Patch

Impac Maintaining Non-QM Standards Amid Competition

MBS Backed by Investment Properties Gaining Traction

Carrington Prepping Non-QM MBS with 58% Cash-Out Refis

New Issuer Set to Join Expanded-Credit MBS Market

Maxex Mortgage Exchange Receives Funding from AGNC

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?

Inside Nonconforming Markets

May 24, 2019

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As homeowner equity continues to build, more and more lenders are launching home equity lending products. Are you thinking of joining this market?