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Inside Nonconforming Markets

August 2, 2019

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CFPB Plans to End GSE QM ‘Patch;’ Possibly Adjust QMs

The proposal to end the qualified mortgage patch available to loans eligible for sale to the GSEs could boost non-agency mortgage activity, though the devil is in the details as the plan plays out leading to early 2021. Read More

QM ‘Patch’ Proposal Met with Mixed Reactions

Participants in the non-agency market are looking forward to expiration of the QM patch. However, industry groups and consumer advocates want the patch to be kept intact. Read More

Large Share of GSE Business Outside of ‘Core’ Functions

More than half of the dollar volume of mortgages securitized by the GSEs in 2018 was backed by noncore loans, according to a new analysis by Inside Nonconforming Markets. Read More

Redwood Seeing Lower Margins for Non-Agency Loans

Redwood’s margins from non-agency mortgage activity declined in the second quarter and aren’t expected to increase much for the rest of the year, according to officials at the REIT. Redwood also has changed its MBS issuance strategy, putting seasoned mortgages into deals. Read More

Citadel Blazes its Own Trail Among Non-QM Lenders

Citadel posted record origination volume for the company in the second quarter, with help from products beyond the typical non-qualified mortgage offerings. Citadel also stands out by servicing its originations and largely avoiding contributing to non-agency MBS. Read More

OCC Details Asset Dissipation Underwriting Issues

Banks are increasingly using asset dissipation underwriting tactics that aren’t supported by prudent risk management practices, according to the OCC. The regulator issued a bulletin with some suggestions for banks. Read More

Angel Oak to Issue one of its Largest Expanded-Credit MBS

Angel Oak is set to issue one of its largest expanded-credit MBS. The deal follows strong issuance in the market in July and a number of other MBS from other firms are in the works.

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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?

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