Redwood locked $2.1 billion of jumbos during the third quarter though it only acquired $176 million. The REIT is issuing MBS and selling loans to banks.

Prepayment rates on prime non-agency MBS inched above 40% in September compared to roughly 25% at the beginning of the year.

For the first time since 2013, rates on jumbos have moved above those on GSE loans. The reason: the Federal Reserve’s massive purchase of agency MBS.

Some $1.64 billion of expanded-credit MBS and $1.06 billion of prime non-agency MBS hit the market in the past two weeks. The expanded-credit deals were stocked with older loans.

CFPB officially extends QM patch; forbearance rate for non-agency mortgages increases; virtual forum on non-QMs.

Maxex has aggregated more than $10 billion worth of product between its founding in 2016 and September of this year. More than $3 billion flowed through the firm’s exchange in the third quarter alone.

Originating non-QMs didn’t work out so well for Sterling Bank. After finding compliance issues, the bank ended its non-QM program and started to repurchase loans sold into MBS.

Imperial Fund, an affiliate of A&D Mortgage, issued its first non-QM MBS this week. Loans in the deal are concentrated in Florida and more than 15% went to foreign nationals or non-resident aliens.

Galton has issued more than $1.0 billion in expanded-credit MBS since the start of 2019. Western Alliance will place Galton within its warehouse lending unit.

The Goldman deal includes some mortgages eligible for sale to the GSEs while many of the mortgages in the new Wells MBS received exterior-only appraisals.