Correspondent Edition

    AUGUST

    Volume continued to be strong in July with seasonality and from lower rates. Both short and long term rates improved in July driving refi activity and opening the purchase market a bit more. MBA projections for 2024 and 2025 remain stable, with expectations for two to three rate cuts this year still intact. The anticipated easing of rates is expected to drive growth in mortgage volume, especially for refi loans, with this positive trend likely continuing through 2026.

    JULY

    MBA Forecast for 2024 total volume continues to be reduced as projected rate reductions are not being realized. The 30-year rates have risen over the past month while shorter term rates have fallen. LoanNEX Gold Pricing Index for NonQM pricing continues to tighten to Agency 30-year fixed pricing. The LoanNEX DSCR Pricing Index has converged with LoanNEX Gold Pricing Index as institutional demand for buying investment property loans continues to grow.

    JUNE

    Trends across the Non-Agency industry remain strong in both Non-QM and Prime Jumbo. Non-QM interest rates have decreased slightly over the past month, indicating strong investor demand, however agency pricing has seen a slight uptick. This tightening can be attributed to the strong liquidity in the Non-QM market including Second Lien. Second Lien products continue to be a go to option for borrowers to tap the equity in their homes while today’s higher rates keep refi options from making economical sense.

    MAY

    The Non-QM market is always changing, and the first few months of 2024 are no different. LoanNEX is your resource for staying on top of trends and having access to all the market options.

    APRIL

    Loan scenarios priced on LoanNEX hits a new milestone of over 40,000 unique loans. Volume growth remains robust across all channels, with wholesale volume witnessing a remarkable 16% month-over-month increase.

    James Booe

    VP of Product and Integration Manager

    As VP Product and Integration Manager, James Booe leads our partner integration initiatives at LoanNEX. His experience aligning business objectives with customer needs provides LoanNEX with deeper expertise to deliver exceptional value to our clients.


    With over 8 years of experience at EllieMae, Inc./ICE Mortgage Technology, including 6 years as the Product Manager for EPPS, James’ experience brings LoanNEX valuable insights into our client’s needs.