Underwriting

Non-QM securitizations hit $78B as lenders ease guidelines to capture unserved borrower demand, even as total impairments rise for the 10th time in 13 months to 6.27%.

The product expansion comes at a time when not just non-agency issuance is expected to have a record year, but other lenders are getting into wholesale.

As tech facilities push into lower income and rural housing markets, lenders navigate local growth without major impacts on home sales price trends.

On Aug. 14, over 30% of the loans sent to Fannie Mae and Freddie Mac from each company were scored using VantageScore 4.0.

Homeowners won't trade in their cheap mortgages so lenders keep finding other ways to reach that equity. Bond buyers keep showing up.

The company's affiliate has been issuing non-QM deals that include a small percentage of second liens, some of which also involve alternative documentation.

However, for the second quarter, increased home purchase mortgage activity contributed to an industry-wide 11% increase in agency securitizations, BTIG said.

Approximately 54% of homeowners looked to a second lien product to access their home's stored value in the first quarter due to the "lock-in effect."

Lenders at the MBA conference say non-agency is more than just non-QM — and those still treating it as a niche product are falling behind as it becomes a core part of the business.

The Mortgage Bankers Association's Mortgage Credit Availability Index declined 0.4% to 107.9 in April after reaching a three-year high in March.

The latest government-sponsored enterprise changes include a more flexible sampling and a longer maximum term for some manufactured housing loans, respectively.

Hale Capital Management purchased Voxtur Analytics after a tumultuous past few years that included financial struggles, and rebranded it as Apex Analytics.

Nonagency underwriting is expanding but the public sector is a different story due to recent performance issues, according to the Mortgage Bankers Association.

The company dropped the broker channel just months after Frank Martell became CEO; now that Anthony Hsieh is running things again, LoanDepot brought it back.

November rate locks fell seasonally but hit their strongest level since 2021, led by refis, while lenders shifted more loans to the GSE cash window.

Bill Pulte's X post has the industry excited that loan level price adjustments could change, but the impact would not be as beneficial as some think, KBW said.

The NRMLA/Riskspan Reverse Mortgage Market Index set a new high of 502.42, with the dollar amount of home equity for those 62 or over reaching $14.4 trillion.

Other studies have found fewer credit pulls could be viable, but this shows millions more would be adversely impacted than in a bi-merge.

The credit scoring agency's rollout comes after years of criticism from home lenders over its prices, with delivery costs rising over 40% in the past year.

The latest reports from ICE Mortgage Technology and VantageScore appear to be in line with hints at growing borrower pressure officials are eyeing in policy.