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.

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.

Ocwen settles lawsuit with Florida AG; non-agency forbearance increases; non-QM MBS pipeline filling up; Angel Oak offers 40-year IO; new non-QM lender in the market.

The Financial Stability Oversight Council’s review of the secondary mortgage market focused solely on the GSEs. Bottom line: Regulators endorsed con-servative capital requirements recently unveiled by the FHFA.