When the pandemic struck this spring, non-QM sales in progress fell apart involving some heavy hitters like NewRez. Now those loan buyers are getting sued for reneging on their contracts.

The two real estate investment trusts saw red ink in the first quarter as they were forced to sell assets when prices plummeted. MFA raised capital this week while AGMIT is considering its options.

An advisory panel has called for greater transparency around credit ratings. SEC officials say the reforms could be difficult to implement.

It’s increasingly possible the Federal Reserve will add jumbo MBS to the assets eligible for TALF, according to Structured Finance Association CEO Michael Bright.

Arbor Realty Trust issued a $727.2 million non-agency multifamily MBS. For the most part, these deals are uncommon because the GSEs dominate the market.

The non-QM whole loan market appears to have turned the corner from its recent doldrums. Some bids are now close to par.

A secondary market is developing for COVID-19-related forbearance loans where the mortgage has already funded but the consumer has asked for relief from their monthly payments.

The industry wants the SEC to align disclosure norms for publicly registered non-agency MBS with those followed in private placements.

A non-QM MBS closed last week and deals from other issuers are in the works. A prime non-agency MBS with newly originated loans was also introduced.

After non-agency MBS issuance all but froze in March, issuers are beginning to return to the market. Neuberger Berman issued a non-QM MBS this week and others are working on deals as well.