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

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.

Semper Capital has agreed to pay $375,000 to settle charges that it inflated the value of certain investments in its non-agency MBS fund.

Thanks to economic damage caused by the coronavirus, the non-QM market is in tatters. Yet, opportunity abounds in the junk heap. Will Citadel become a specialty/subservicer?

MFA Financial and AG Mortgage Investment Trust have staved off margin calls from most of their financiers for at least two weeks.

Velocity Financial raised capital by selling stock after plans to issue MBS were disrupted by volatility from the coronavirus. Several REITs also provided updates on their financials.

AG Mortgage Investment Trust filed a lawsuit to stop Royal Bank of Canada from selling commercial MBS the company is a counterparty to. The bank for now has decided to postpone the auction.

A month ago, investors were gobbling up MBS with non-QMs. Now, the sector is shut down due to the upheaval caused by the coronavirus.