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As the rising rates shrink the number of potential customers, mortgage brokers are seeking these products in order to keep business up.

The increase is the first since 2018 and, combined with reductions in the mortgage and Treasury bond portfolio, it could drive 30-year home loan rates to 4.5% by year-end.

Company management believes it can still be successful in the securitization market despite widening spreads.

The increase in second-lien residential loans in this category was even more pronounced, according to Standard & Poor’s Dow Jones Indices and Experian.

Purchases increased, but refinance activity cooled again due to rising rates.

A majority of the loans, 63.5%, were designated as non-QM loans, and about 36.5% of the loans in the pool are made to investors for business purposes.

The Federal Open Market Committee is all but certain to raise rates by a quarter percentage point at the conclusion of its two-day policy meeting.

An increase in loan-limit size and the rapid growth of home equity fueled interest in reverse mortgages in January.

An oversight official at the Consumer Financial Protection Bureau has laid out some specific responsibilities mortgage companies have when they work with borrowers receiving this type of housing relief.

An investor alleged the independent mortgage bank failed to disclose the revenue hit from a refinance dip at the time of its initial public offering.