George Mangiaracina: “Without getting into specifics ... margins are 50% better in GSE than they are non-QM.”

On Friday, Black Knight Financial released its forbearance tally, finding a 121,000 unit decline for the seven-day period ending Nov. 13.

Though jumbo volume remained stable, the sector lost market share as the conventional refinance business continued to boom.

The fix-and-flip lender relaunched production in September but doesn't expect originations to return to pre-COVID levels until the second quarter of 2021.

Non-QM MBS issuance is helping MFA get out of a hole after market volatility in the spring forced the REIT to take on a loan with costly terms.

Agency MBS accounted for 25% of Chimera's portfolio at the end of 2019 and only 1% as of the end of September.

Quicken Loans and loanDepot were the other nonbanks among the top five sources of collateral for these deals...

Velocity resumed origination activity in September, funding $63 million of investment-property loans in October.

This summer, non-cash-flowing loans as a share of aggregate current balance of non-agency MBS ranged from around 5% of post-2010 prime non-agency MBS to as high as 26% for legacy deals...

Research published by AEI shows that, between 2014 and 2019, the average interest rate on jumbos was 29 bps lower than on agency loans.