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.
In a few weeks, Ocwen will report fourth quarter results. In trading Wednesday, its common was fetching $1.28 compared to a 52-week high of $2.45 and a low of $1.24.