Non-agency lenders will no longer have to look to stringent underwriting requirements set by the CFPB, which will likely shift some non-QM lending in-to the QM sector.

Goldman is set to issue a prime non-agency MBS backed by new production while affiliates of Caliber and Verus brought deals collateralized by seasoned loans.

Citadel rebrands as Acra Lending; minimal non-agency MBS downgrades following review by Fitch; non-QM impairments decline; non-agency forbearance down slightly.

The mortgage market was expected to be ready to take on the 43% DTI ratio limit for qualified mortgages by 2021. However, it didn’t work out that way.

After sharply limiting its aggregation due to volatility from the coronavirus, Redwood has re-entered the jumbo MBS market. Meanwhile, issuers of expanded-credit deals continue to stock their MBS with older loans.

Forbearance offers depend on what’s allowed by non-agency MBS contracts, but some deals don’t address the issue at all.

Three issuers of jumbo MBS offered deals in the past two weeks, including the first post-2010 issuance from Morgan Stanley.

In the twilight of the Trump administration, the FHFA is taking steps that could make the non-agency market more competitive with the GSEs. A Democrat in the White House could mean otherwise.

Select Portfolio Servicing gained ground during the third quarter but Shellpoint Mortgage Servicing remained the top servicer of non-agency MBS. (Includes data chart.)