Non-QM Market Share Remains Small

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June 16, 2017

In the first quarter of 2017, the share of non-Qualified Mortgage lending dropped to 0.1 percent from 1 percent the previous quarter, according to the NAR 1st quarter Survey of Mortgage Originators.

More than half of the survey’s respondents offer non-QM loans, but a net decline of 10.6 percent of lenders were less willing to extend those loans last quarter, which negated the gains made in Q4 2016.

While the share of risky loans rose modestly in the 4th quarter of last year, that trend appears to have retrenched in the 1st quarter of 2017. However, as refinance-oriented lenders retool their operations towards the purchase market due to rising rates they may be enticed by profits in riskier loans.

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