Yes, expanded-credit mortgage originations fell sharply in the third quarter as nonbank lenders faced parched conditions in the MBS market. But ECM is the only mortgage sector where 2022 volume is running ahead of last year's pace. (Includes data chart.)
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If lenders want to set themselves apart in an increasingly competitive purchase market, they will have to become experts in the non-QM space, according to officials at Deephaven Mortgage.
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Nonprime servicing portfolios increased by 1.7% in the third quarter and 7.5% year-over-year. Only three of the top-10 players in the sector saw volumes decline from the second to the third quarter. (Includes data chart.
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The adjustable-rate mortgage share of total production increased slightly in the third quarter, even though originations of the product drastically declined. (Includes data chart.)
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There are still areas in the country where the jumbo market can grow, according to industry analysts. The only concern is if home prices fall as drastically in 2023 as some economists are predicting.
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Invictus rolls out $755.6 million non-QM securitization; Angel Oak Mortgage responds to rumors; Carrington Mortgage Services launches second-lien product.
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