The standards generally mirror requirements the FHFA has established for servicing of mortgages backed by the GSEs. Implementation will be handled on a state-by-state basis.

Non-agency forbearance increases; Sachem inks $200 million repo line; review of risk-retention requirements extended; Angel Oak plans to expand its digital capabilities; Liquid Mortgage receives patent; Home Diversification Corp. for sale.

The impairment rate on securitized non-QMs fell to 7.9% at the end of May. Prepayments in the sector remain elevated as borrowers refinance.

Non-agency forbearance ticks up; Saluda Grade raises capital; Sachem launches SPAC.

The CFPB scaled back a proposed foreclosure moratorium and declined a request to exempt non-agency loans from the new standards.

Maxex receives new funding; Angel Oak expands retail branches; Ocwen to acquire Reverse Mortgage Solutions; non-agency forbearance flat.

Chase’s nonprime servicing portfolio increased tenfold to $44.40 billion at the end of March. The spike was due to a change in the way the bank reports numbers and not because of an influx of new servicing. (Includes data chart.)

Non-agency forbearance reading increases; non-QM lenders make personnel moves; Moody’s withdraws its jumbo assessment of Quicken Loans, Regions Bank to acquire home-improvement lender.

Non-QM impairment rate declines in April; non-agency forbearance update; Laurie Goodman appointed chair of MFA Financial’s board; White Mountain Capital boosting loan acquisitions; Synergy One offering HELOC with blockchain tech; capital raises and new financing for financing providers that allow homebuyers to make cash offers; Canopy approved by DBRS as due diligence provider.

The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.