Four deals were brought to the market in the past two weeks and more are in the works. However, issuance will slow as the recent activity was backed by loans originated before non-QM lenders halted production.

Wells Fargo is set to issue a $478.1 million jumbo MBS, marking only the second deal of the quarter.

After taking a couple of months off from originating mortgages, Impac is back. However, the lender is avoiding non-QMs for the moment.

The re-proposed capital requirements for the GSEs could prompt a shift in activity toward the non-agency market. The devil is in the details.

CFPB issues proposed rule for LIBOR transition; non-agency forbearance rate declines; Chimera turns to alternative financing; Invictus launches commercial lender; SFA shifts date for annual conference.

After issuance ground to a halt in March, five non-QM MBS deals came to the market in May and more are on the way. Transactions have been stocked with slightly seasoned mortgages.

Among the lenders currently offering non-QMs, underwriting standards are tighter and interest rates on the loans are higher than earlier in the year. Industry participants are optimistic that the sector will rebound, eventually.

For the first time in years, the amount of jumbo mortgage servicing outstanding declined on a quarterly basis. Looking forward, forbearance requests are a key issue. (Includes data chart.)

A $335 million deal from Goldman Sachs is the first prime non-agency MBS in the market since mid-March. The transaction includes mortgages originated in the past few months.

A coalition of industry trade groups asked the SEC to revise standards for publicly registered non-agency MBS. They suggested aligning standards with practices for private placements.