The top three sellers to Fannie and Freddie in August: Quicken Loans, Wells Fargo and United Wholesale Mortgage.

A handful of mortgages in the MBS were previously in forbearance due to financial difficulties from the coronavirus.

On Friday, Black Knight issued its relief tally: 3.7 million mortgagors in forbearance as of Sept. 8, down 66,000 units for the week. The data analytics firm noted that 2 million forbearance  plans are set to expire this month.

MBA: The onset of the COVID-19 pandemic had a dramatic and immediate impact on lodging and retail properties, which flowed through to the underlying mortgages...

Mortgage credit supply in August fell to its lowest level in six year, driven by a reduction in supply from both conventional and government segments t, according to a recent tally by the Mortgage Bankers Association.

Fannie Mae, Freddie Mac and Ginnie Mae issued $321.83 billion of single-family MBS last month, according to an Inside MBS & ABS ranking and analysis.

Loans in the first non-QM MBS from Wells have seasoned for an average of 15 months.

The deal will mark the fifth MBS Angel Oak has issued since mid-May, all of which have been stocked with mortgages originated before April.

MBA's Mike Fratantoni: “The share of Ginnie Mae loans in forbearance increased again ... as the current economic crisis continues to disproportionately impact borrowers with FHA and VA loans."

Fannie Mae, for one, believes the proposal could prompt a 20 bp increase in g-fees.