October 8, 2021

Non-Agency MBS Volume Hits Post 2010 High in Third Quarter

Prime jumbos and loans eligible for sale to the GSEs helped propel the non-agency MBS market to a post-2010 record in the third quarter of 2021. Issuance of expanded-credit MBS lagged. (Includes data chart.) Read More

Non-Agency MBS Market at an Inflection Point

The supply of mortgages for non-agency MBS is expected to decline, leading to concerns that industry participants might loosen underwriting standards to prop up volumes. Read More

Two Lenders Raise Their Loan Limits Ahead of GSEs

PennyMac and United Wholesale Mortgage hiked their loan limits for GSE mortgages well before the FHFA is scheduled to announce the official limits for 2022. The move will limit some of the flow of mortgages into the non-agency jumbo market. Read More

Angelo Gordon REIT Now Fully Focused on Non-Agency Mortgages

AGMIT sold off the last of its investments in commercial mortgages in September, with plans to increase investments in non-QMs and other non-agency mortgages. Read More

Non-QM Impairment Rate Up for the First Time in Months

The share of securitized non-QMs that are delinquent or modified increased in August for the first time since February. Still, industry analysts are comfortable with the long-term outlook for performance. Read More

Rate Spreads Little Impacted by New QM Standards

The switch in QM standards that many lenders had to make in July didn’t have a major impact on spreads between interest rates on mortgages and the average prime offer rate. Most mortgages continue to receive safe harbor QM status. Read More

Non-Agency MBS Issuers Hit the Ground Running in 4Q

Amid the change in quarterly periods and SFA’s annual conference, four issuers of non-agency MBS launched deals in early October. Read More

News Briefs

FHFA scraps plan to allow non-agency mortgages on common securitization platform; non-agency forbearance declines; Redwood makes another venture investment; Plaza resumes non-QM program; FoA allowing jumbo borrowers to use income from ADUs; Invictus hires dv01. Read More

Inside Nonconforming Markets

View Archived Issues

Non-Agency MBS Volume Hits Post 2010 High in Third Quarter

Non-Agency MBS Market at an Inflection Point

Two Lenders Raise Their Loan Limits Ahead of GSEs

Angelo Gordon REIT Now Fully Focused on Non-Agency Mortgages

Non-QM Impairment Rate Up for the First Time in Months

Rate Spreads Little Impacted by New QM Standards

Non-Agency MBS Issuers Hit the Ground Running in 4Q

News Briefs

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Mortgage Servicing Rights Report: 3Q25 (PDF)

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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

October 8, 2021

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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?