While most non-agency MBS servicers specialize in handling either prime mortgages or expanded-credit loans, Shellpoint services large volumes of both loan types.

The vehicle-finance sector hit a pothole as new issuance skidded 26.0% from the first quarter to $21.61 billion. But that represented 62.9% of new ABS production for the second quarter.

In general, the nature of the non-agency market makes it difficult to standardize practices across the industry, let alone in individual MBS.

Lenders across the nation are taking a close look at their jumbo underwriting standards, including market leader Wells Fargo...

Some 10.1% of loans in the deal are in forbearance and another 1.8% have received deferrals.

United Wholesale sold $5.74 billion of jumbos to unaffiliated non-agency buyers in 2019.

Nearly 8% of mortgages in the MBS are in forbearance, though all of the borrowers are current on their payments.

Roughly $8.04 billion of non-agency MBS backed by new production was issued in the second quarter, down 39.0% from the first three months of the year.

Velocity sold two unrated MBS in recent months and now plans to focus on restarting originations.

The bulk of non-QM originations come through mortgage brokers and the retail channel.