| Inside Mortgage Finance

Expanded-Credit Lending Down but Not Out in 2Q20

Expanded-credit lending declined in the second quarter as many prominent nonbanks paused production. However, lending by depositories helped prop up volume, led by Citi with its menu of interest-only mortgages. (Includes data chart.)

Non-QM MBS Performance Improves in July, Risks Remain

The impairment rate on non-QM MBS declined to 19.3% in July from 20.4% in June. While loan performance is improving, MBS investors could suffer reduced cash flows and losses as modifications end.

Goldman Sachs Issues its First Non-QM MBS. Others...

The majority of loans in Goldman's MBS were included in deals issued in 2017 and 2018 that were subsequently collapsed. Angel Oak, Chase and MFA also issued MBS within the past two weeks.

MFA Issues its First Non-QM MBS on its Second Try

MFA was one day away from pricing its first non-QM MBS in March when volatility from the coronavirus struck. Result: deal scuttled but there's a happy ending: the REIT finally issued its first non-QM MBS this week.

FHFA's Capital Proposal Could Prompt Higher G-Fees

A proposal by the FHFA regarding capital requirements could help non-agency execution options better compete with the GSEs due to an expected increase to the guarantee fees charged by Fannie and Freddie.

ARM Fundings Increase in 2Q20, Market Share Down

An estimated $65 billion of ARMs (remember them?) were originated in the second quarter, up 10.2% from 1Q20. (Includes data chart.)

Tighter Underwriting for Prime Jumbos in 2Q20

Only four deals were issued during the second quarter as industry participants dealt with volatility from the coronavirus. (Includes two data charts.)

Average Jumbo Borrower: 47 Years Old, Lots of Income

A new analysis of HMDA data provides some insight on borrowers who received jumbo mortgages last year. The median property value securing jumbos originated: A cool $1.17 million.

News Briefs

Non-agency loans in forbearance decline; Moody's downgrades JPM's jumbo-mortgage aggregation unit; Pacific Private Money issues MBS backed by bridge loans.

Inside Nonconforming Markets

September 4, 2020

View Archived Issues

Expanded-Credit Lending Down but Not Out in 2Q20

Non-QM MBS Performance Improves in July, Risks Remain

Goldman Sachs Issues its First Non-QM MBS. Others...

MFA Issues its First Non-QM MBS on its Second Try

FHFA's Capital Proposal Could Prompt Higher G-Fees

ARM Fundings Increase in 2Q20, Market Share Down

Tighter Underwriting for Prime Jumbos in 2Q20

Average Jumbo Borrower: 47 Years Old, Lots of Income

News Briefs

Latest Imf News

MBA Seeks Credit Score Threshold for Tri-Merge at GSEs

REITs Add to Agency MBS Holdings in Third Quarter

Fannie Looks to Have Walked Back Net Worth Proposal

Mutual of Omaha to Issue Securitization With Proprietary Reverse Mortgages

Featured Data

Non-Agency Jumbo Originations Slow in Third Quarter

Jumbo Servicing Volume Slightly Down in Third Quarter

Refis Lift Agency MBS to Three-Year High in November

Broker Channel Regains Some Share in Third Quarter

Featured Reports

Agency Seller-Issuer Profile: 3Q25 (PDF)

Lender Profiles 2Q25: Top 25 (PDF)

GSE Repurchase Activity: Cumulative to Second Quarter 2025 (PDF Format)

Mortgage Profitability Report 2Q25 (PDF)

Featured Poll

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

September 4, 2020

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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?