“It was a tough three or four weeks in this business,” said Steve Abreu, president of NewFi Lending...

Sterling Bank and Trust increased reserves in case the bank has to buy back non-QMs with faulty underwriting.

Investor appetite for the MBS has been relatively strong. The Angel Oak paper was oversubscribed.

After the pandemic changed its worldview, NewFi lowered its LTV on non-QM offerings to 60%...

Wells Fargo led the jumbo pack in 1Q20 but its volume fell 23.1% on a sequential basis...

Jim Parrott: “It seems to me, it would be extremely helpful for them to add non-agency lending as acceptable collateral under these TALF programs, whether at the MBS level or at the loan level."

Close to 40% of loans in a planned non-QM MBS from Starwood Non-Agency Lending are subject to COVID-19-related forbearance. The relief rate on a deal from Verus Mortgage Capital is 7%.

Citadel has contributed non-QMs to MBS issued by other firms while never issuing its own security. Meanwhile, an MBS from MFA Financial with loans from Citadel is on hold.

The loan, structured by Canyon Partners with participation from credit funds managed by affiliates of Fortress Investment Group, essentially doubled the amount of cash New Residential has on its balance sheet.

Overall, the jumbo origination share fell to 11.9% in the first quarter from 14.1% in 4Q19...