| Inside Mortgage Finance

Jumbo Correspondent Lending Share Down in 1Q

The correspondent share of jumbo originations declined in the first quarter of 2019 after reaching relatively high levels in the second half of 2018. The retail channel remained the main source of production while brokers gained market share.

Non-Agency Players See Promise at End of the GSE 'Patch'

Participants in the non-agency market are looking forward to the end of the “GSE patch,” anticipating significant increases in non-QM activity as long as federal regulators provide certainty regarding the rules of the road. Read More

Loans from CDFI Lender Shake up Non-QM MBS

An affiliate of Angelo Gordon is set to issue its first non-QM MBS with what could be a trend-setter: many of the loans were originated by a CDFI. Such loans are exempt from the ATR and risk-retention standards.

Lenders, Investors Have Mixed Views on Fix-and-Flip Market

Fix-and-flip loans are offering attractive returns to some non-agency players even as others are reducing their exposure to the market, citing concerns about slowing home-price appreciation.

Fitch to Take a Closer Look at Disaster Risk for MBS

Fitch has proposed adjustments to its non-agency MBS rating criteria that would levy penalties related to natural disaster risk. The impact of the proposal will largely be offset by other adjustments, according to the rating service.

Banks Slow Portfolio Additions in First Quarter

Banks and thrifts continued to increase their first-lien holdings in the first quarter, but the rate of portfolio growth is slowing. Portfolios at Wells and Chase declined in the first quarter while BofA boosted its holdings.

Lower Balance for Latest MBS from Angel Oak

The latest expanded-credit MBS from Angel Oak will be somewhat smaller than the first two deals the firm issued this year. The deal also includes a higher share of mortgages underwritten with 12 months of bank statements.

Lenders Enhance Investment-Property Loan Offerings

A number of lenders announced improvements to their investment-property mortgage programs. Verus simplified its offerings, Velocity launched a new product and Civic entered the correspondent channel.

News Briefs

Inside Nonconforming Markets

June 7, 2019

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Jumbo Correspondent Lending Share Down in 1Q

Non-Agency Players See Promise at End of the GSE 'Patch'

Loans from CDFI Lender Shake up Non-QM MBS

Lenders, Investors Have Mixed Views on Fix-and-Flip Market

Fitch to Take a Closer Look at Disaster Risk for MBS

Banks Slow Portfolio Additions in First Quarter

Lower Balance for Latest MBS from Angel Oak

Lenders Enhance Investment-Property Loan Offerings

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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

June 7, 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?