Cherry Hill plans to drop its external manager, consider additional strategic options; FHFA publishes historical VantageScore data; Computershare, NewRez receive master servicer ratings; commercial MBS from Morgan Stanley downgraded.

S&P lost a little market share in rating newly issued ABS but remained the top provider in the first quarter. Fitch had a similar experience in the non-agency MBS market. (Includes two data tables.)

Loans to foreign nationals are increasing in the non-agency MBS market, but inherent risks in the asset present ratings challenges.

There are plenty of buyers for non-QMs these days. And coupled with continued strong home values throughout most of the nation, sales of early payment default mortgages are not proving to be a burden.

The decline was driven by conventional-conforming mortgages and government-insured mortgages. The securitization rate for non-agency mortgages actually jumped in the first quarter. (Includes data table.)

Analysts are not “raising alarm bells” yet despite increasing delinquency rates in the non-QM mortgage-backed securities sector.

Lenders are compensating for climate change by requiring higher downpayments for properties in areas of higher flood risk and increasing subordination levels in securities with a higher concentration of mortgages in flood zones.

Invictus has launched a new business to provide insurance companies with access to residential loans.

Close to half of the prime non-agency MBS volume in the market since early May has been in GSE-eligible mortgages. Rocket Mortgage is the latest issuer with a GSE-eligible offering, including a number of loans with eNotes.

Initial partners for Figure’s new marketplace include The Loan Store, Movement Mortgage, Bayview Asset Management and Saluda Grade.