Moody's believes that relying on less than 12 months of a borrower's bank statements increases the risk a non-QM loan may not meet the CFPB's standards...
Angelo Gordon's GCAT 2020-NQM1 includes non-QMs, investment-property loans exempt from QM standards and mortgages originated by CDFIs, which reduce risk-retention requirements.
A handful of GSE-eligible mortgages in Goldman's deal have loan-to-value ratios greater than 80% and private mortgage insurance, which is uncommon for loans in non-agency MBS.