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Inside Nonconforming Markets

May 27, 2022

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Expanded-Credit Originations Stand Out in First Quarter

The expanded-credit market was the only sector to see originations increase in the first quarter. The products accounted for 2.2% of total mortgage originations. (Includes data chart.) Read More

Non-Agency Market Poised for Growth as Refi Business Falls

Participants in the non-agency market note that the loans are more difficult to underwrite than typical agency mortgages. But given that agency refi business is falling, there’s still plenty of business to be had in the non-agency space. Read More

Sharp Divide on ARMs in Non-Agency Market

ARMs are getting more popular with borrowers as interest rates increase. In the non-agency market, ARM originations are currently dominated by banks. Read More

Higher-Priced Lending Jumps in 2021, Led by Purchase Mortgages

Non-agency originations of higher-priced mortgages increased by nearly 60% on an annual basis in 2021. The top lenders include a mix of expanded-credit producers and lenders that focus on manufactured homes. (Includes two data charts.) Read More

Nonprime Servicing Portfolios Tick Up in First Quarter

Originations of expanded-credit mortgages helped to boost nonprime servicing portfolios in the first quarter of 2022. (Includes data chart.) Read More

Nonbanks See Promise in HELOCs, a Traditional Bank Offering

Homeowners have plenty of equity and nonbank lenders are looking to replace refinance business, leading some large nonbanks to start offering HELOCs. One complication: what to do with the assets. Read More

Shift to Non-QMs Not Enough to Avoid Loss at Impac in 1Q

Impac increased its emphasis on non-QM lending in the first quarter of 2022 and ended up taking a loss. Officials at the nonbank said hedging and other activities couldn’t overcome volatility in the non-QM market. Read More

News Briefs

Altisource setting up alternative lending operations; Reverse Mortgage Funding offers non-agency MBS with proprietary reverse mortgages; Dovenmuehle assessed as “above average” by Moody’s. 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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