Chase was the most active player in the non-agency MBS market in late July, with deals involving jumbos, investment-property mortgages and a risk-sharing transaction.

Toorak Capital Partners expanded its securitization activities into 30-year mortgages for investment properties. Bayview Asset Management and Goldman Sachs have jumbo MBS in the market, and a number of other issuers are planning deals.

While many non-QM lenders suspended production last year, A&D Mortgage’s direct connection to the MBS market placed it in good stead.

Issuance of non-agency MBS with GSE-eligible loans is booming, largely due to restrictions on certain purchases by the GSEs.

Nine expanded-credit MBS hit the market in the past two weeks, with the deals largely backed by mortgages originated in recent months.

After temporarily suspending originations during the pandemic, wholesaler ClearEdge Lending is ramping up production of non-agency mortgages.

Trade groups representing lenders are urging regulators to maintain the link between QMs and loans exempt from mandatory risk retention.

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.

The non-agency market has emerged as an alternative, albeit at a higher cost, for lenders to deliver GSE-eligible mortgages backed by investment properties and second homes. However, some lenders are concerned about the adverse impact GSE restrictions could have.

Chase issued its fifth large prime non-agency MBS of the year, along with a number of more traditionally sized deals. United Wholesale Mortgage is also set to issue its first deal.