Select Portfolio Servicing gained ground during the third quarter but Shellpoint Mortgage Servicing remained the top servicer of non-agency MBS. (Includes data chart.)

Three deals hit the market late last week. Chase issued a jumbo MBS backed by fresh loans while two other issuers packaged investment-property mortgages.

Velocity resumed lending in September, predicting that production could hit pre-pandemic levels by the second quarter of 2021. The nonbank also took a large charge-off in the third quarter.

First Federal Community Bank of Bucyrus lost an appeal in a lawsuit involving the ATR standards for income documentation.

GSE loan limits increase by 7.4% for 2021; non-agency forbearance rises.

After issuing $1.0 billion of expanded-credit MBS during the third quarter, Annaly is working to acquire more non-QMs. The REIT reported strong returns from the MBS.

MFA Financial took losses on non-QM sales earlier this year and obtained costly financing amid margin calls. Now the REIT is generating profits and paying off debt thanks to two MBS issuances in recent months.

Impac resumed originations of non-QMs in October with a whimper rather than a bang. The lender is generating better returns from GSE mortgages.

Chimera is generating attractive returns by packaging jumbos, GSE-eligible investment-property mortgages and seasoned loans into non-agency MBS. The REIT continues to avoid non-QMs.

The volume of business the GSEs conduct in various noncore categories increased in 3Q but the noncore share of Fannie/Freddie business declined as lenders focused on refinances. (Includes data chart.)