The stall in issuance of non-QM MBS could be close to an end. Two firms plan to issue deals, though the exact timing isn’t clear.

The resumption of non-agency MBS deals backed by newly originated loans came from an unexpected source: a reverse mortgage lender.

Redwood MBS could be downgraded due to stop-advance feature; Moody’s assesses Finance of America Mortgage; non-QM lender PCMA signs lease for new headquarters.

A handful of lenders continue to originate non-qualified mortgages while the major players in the market pause production.

Velocity Financial was increasing originations and income, then the coronavirus hit, halting issuance of a planned MBS and prompting the need for additional capital.

Issuance of non-agency MBS fell 8.2% in the first quarter, with the decline driven by the expanded-credit sector. The non-agency MBS market essentially shut down in March due to fallout from the coronavirus. (Includes data chart.)

As the financial impact of the coronavirus spreads, some lenders have suspended non-QM originations and others have repriced products.

After a surge in February, the issuance of non-agency MBS has all but ground to a halt due to financial turmoil caused by the coronavirus.

Figure packaged a $149 million ABS backed by home-equity lines of credit that were originated and securitized using blockchain technology.

Toorak prices securitization backed by bridge loans; Redwood extends a warehouse line; Velocity provides a financial update; sales of luxury homes rose in 4Q19; PCMA launches product for investment properties.