Non-QM impairment rate increases in September; Angel Oak launches ETF with focus on non-agency MBS investments; new correspondent lender focusing on non-QMs; Go Mortgage offers non-QM construction loan.

An affiliate of Bayview Asset Management is set to issue its first jumbo MBS since December. Loans in the deal have seasoned for an average of 4.5 months and were sourced from a number of lenders.

Distressed borrowers with subprime mortgages in states with a judicial foreclosure process achieve non-foreclosure outcomes at a higher rate than similar borrowers in states that don’t have a such a process, according to findings from a new paper.

Non-QM impairments decline after two-month increase; Balbec unit offers non-QM MBS with loans from Sprout; new CIO at Redwood; Velocity quickly packages business-purpose loans.

Shellpoint handled servicing on nearly 35% of the non-agency MBS issued in the second quarter of 2022. (Includes data chart.)

Impairments, which reflect delinquencies and modifications, increased on securitized non-QMs for a second consecutive month. In July, the performance of severely distressed borrowers also worsened.

Among the top 15 servicers of nonprime mortgages, portfolios increased slightly in the second quarter. Delinquencies, meanwhile, improved. (Includes data chart.)

Among the top 30 jumbo servicers, portfolios increased during the second quarter. Servicing declined at top-ranked Wells and increased at nearly all others in the top 10. (Includes data chart.)

Non-QM impairments decline in May; SFA assessing TRID review scope; new hire at Angel Oak; New Residential rebrands as Rithm Capital.

After more than a year of steady declines in delinquencies on securitized non-QMs, delinquency rates have fluctuated in recent months.