The impairment rate on non-QM MBS declined by 70 basis points in August even as enhanced unemployment benefits ended in late July.

Mortgages in the deal have an average combined LTV ratio of 87.8%.

One last observation: Over the past month we’ve talked to no one who believes 2021 will be a train wreck. Several expect it to be a strong year, just but not as good as 2020…

The only declines in IO production among the group were at non-depositories...

Demand for new non-QM MBS has returned to the levels seen before volatility in March prompted a pause in issuance.

Both MFA and Starwood are involved in the market for non-qualified mortgages.

In the first six months of 2020, originators of all stripes funded $23.3 billion of EC loans, accounting for 1.5% of total first-lien production. Somewhat surprisingly, lending volume for the sector was up 5.4% compared with the halfway point of 2019...

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

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.