This paper provides a framework for understanding the risks to borrowers and lenders in capital markets. We begin with a description of a capital markets in a domestic context. This allows us to focus
The Fitch-dv01 Non-QM Benchmark provides a more holistic view of the U.S. Non-QM market. Powered by loan-level data, the benchmark is anonymized, standardized, and AI-ready. Built from dv01’s role as