Last year, California-based Athas Capital financed $1.2 billion of mortgages, mostly non-QMs, through its wholesale channel. In addition, the group contributed $558.8 million of expanded-credit MBS in 2021, ranking 11th among expanded-credit lenders, according to Inside Nonconforming Markets.

Read more: Get ready for non-QM’s biggest year yet

Non-QM experts Dane Smith, president of Verus Mortgage Capital, and Tom Hutchens, EVP of production at Angel Oak Mortgage Solutions, estimate that non-QM market share will double to 10% in 2021, with securitizations reaching $25 billion.