While Angel Oak issued a non-QM MBS during the second quarter, the REIT didn't participate in the securitization.

JMP said it sounds like “these actions” by the GSEs “primarily targeted nonbank wholesale channel lenders, of which UWM [United Wholesale Mortgage] and HMPT are among the largest.”

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The bulk of the loans in the MBS were originated by New Residential's own lending unit, along with some from Caliber...

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Fannie CEO Hugh Frater described the change to DU as “one important step in correcting the housing inequities of the past,” adding that it will create a more inclusive mortgage credit evaluation process.

CHOICEReno eXPress, on the other hand, is targeted toward borrowers who need to finance relatively minor renovations. In designated Duty to Serve high-needs areas, the total cost of the rehab can’t exceed 15% of the appraised home value. Otherwise, the limit is 10% of the home price.

Annaly packaged newer non-QMs, MFA's deal is stocked with loans that have seasoned for about a year and Velocity focused on investment properties/small balance commercial.

The agency noted, “A few servicers were outliers, reporting relatively higher average time to answer and abandonment rates.”