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Inside Nonconforming Markets

March 26, 2021

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Retail Channel Dominates Jumbo Originations in 2020

The retail channel accounted for nearly 90% of jumbo mortgage originations last year. The channel gained share from both correspondents and brokers. (Includes data chart.) Read More

Some Non-Agency Lenders Embracing New QM Rule

Some lenders are originating jumbos under new QM standards that don’t require them to meet Appendix Q of the ATR rule. Read More

Interest-Only Mortgage Production Up 42% in 2020

A group of 15 lenders tracked by this publication increased production of IOs in 2020. Many of them are banks that are able to keep the loans in portfolio. (Includes data chart.) Read More

Eyeing Higher Margins, Impac Returns to Non-QMs

The margins on originating non-QMs look good enough for Impac to resume production. The lender suffered a large loss in 2020, partially due to pandemic-driven volatility in the sector. Read More

Velocity Financial Maintains Profitability Throughout 2020

The investment-property lender boosted income in 4Q20 with a whole-loan sale. The firm is also planning to issue an MBS backed by recently funded loans in 2Q21. Read More

ARMs Account for a Scant 6.9% of Originations in 2020

ARM production increased on an annual basis in 2020 but its share of first-lien originations fell to a level not seen since 2009. (Includes data chart.) Read More

A Mix of Loans in Non-Agency MBS

Six prime non-agency MBS with newer loans have hit the market along with two expanded-credit deals with older mortgages. Read More

Fix-and-Flip Funding Down in 2020, Lenders Still Optimistic

The share of fix-and-flip home sales completed with financing declined on an annual basis for the first time in a decade. Read More

Business-Purpose Lenders Seek SAFE Act Exemption

Lenders originating business-purpose loans want explicit exemption from state licensing requirements. Read More

News Briefs

Provident drops jumbos from warehouse securitization; The Change Company hires former Angelo Gordon MD; FoAM wins bid for Benji. Read More

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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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