MFA and Western Asset Management took losses on non-QMs in 2Q. Anworth is in a holding pattern and Starwood is buying non-QMs at a discount.

An affiliate of Bayview Asset Management entered the prime non-agency MBS market and non-QM MBS issuers continue to stock deals with seasoned loans.

Share of non-agency mortgages in forbearance down slightly; Impac takes a loss in 2Q.

The lack of standardization in the non-agency MBS market has raised concerns about how servicers are handling loans in forbearance. Critical details regarding loan performance are missing, according to investors.

Demand for non-QMs in the secondary market is helping lenders loosen underwriting standards and drive down interest rates for new production. Five non-QM MBS hit the market in the past two weeks.

The lender increased its mortgage originations by 67% in the second quarter, with an emphasis on refinances.

It’s not clear whether the review is underway, let alone what will be looked at and what might change.

Production of higher-priced conventional mortgages increased in 2019, though the loans still have a relatively low market share. The top lender was a firm that focuses on loans for manufactured housing. (Includes two data charts.)

Chase is set to issue a $750 million deal while Chimera is planning a $362 million MBS. Both securities are stocked with jumbos along with mortgages eligible for sale to the GSEs.

Non-agency forbearance numbers increase; Redwood CEO calls on Fed to include non-agency MBS in TALF; Fitch revises rating criteria; Citigroup’s jumbo aggregator assessed as “average” by Moody’s; Chase brings risk-sharing deal on seasoned loans; Ocwen turns slight profit in 2Q.