Performance Report: Non-QM, April 2023

dv01’s latest performance report is now available. 

Quick Insights

• Homeownership rates in Q1-2023 rose to their highest levels in 12 years, according to the latest U.S. Census Bureau data (page 3).

• Total Impairments rose 50 bps MoM—the largest increase in over two years—to 4.5% and were driven mainly by the end-of-month Sunday effect (page 4).

• When comparing VERUS 2021-1 to its 2021 vintage Non-QM cohort, the VERUS deal prepaid faster due to more seasoned loans and the relationship between rate incentive and loan age (page 14).

• The dv01 Non-QM Prepayment Model’s downward shift this month is in response to higher mortgage rates in March (page 14).