Non-QM fills the gap in lost volume

Back in December, HousingWire Senior Mortgage Reporter Bill Conroy took a close look at how current market conditions may impact non-QM lending in 2022 and beyond.
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As a growing number of borrowers no longer qualify for home loans, non-QM loans can help fill the gap in lost volume from a shrinking Agency market and declining refinance business.

Mortgage

Compared to the same week one year ago, mortgage apps overall dropped 39.8%, with a sharp decline in refi (-54.1%) compared to purchase (-6.8%).

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    Agency rates are on the rise and refinance volume is down. Originators who had their best year in 2021 will have to utilize something else to make up for this loss in 2022 and non-QM can be the answer.

    Data

    Reverse mortgage refinances didn't quite hit half of all volume in 2021, but they came very close. Meanwhile, total H4P share dropped further.

    Real Estate, Mortgage

    VA loans for first-time homebuyers are impacted by interest rates, but still an excellent business opportunity in 2022. 

    Mortgage, HW+ Exclusive Content

    The non-QM private-label market could swell to $40 billion in 2022, and even that is just a fraction of the market's loan-origination potential. 

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