Chase is set to issue a $1.03 billion MBS backed by newly originated jumbos. Meanwhile, Credit Suisse and MFA have deals with slightly seasoned non-QMs and investment-property loans.
The REIT set a company record for locked jumbo business in the third quarter and then went on to break it in the fourth quarter. Redwood is focusing on prime jumbos as its expanded-credit lending has stalled.
The fintech upstart aims to issue a jumbo MBS during the first quarter of 2021 using blockchain technology. Mike Cagney’s shop also has applied for a bank charter.
Non-agency lenders will no longer have to look to stringent underwriting requirements set by the CFPB, which will likely shift some non-QM lending in-to the QM sector.
Goldman is set to issue a prime non-agency MBS backed by new production while affiliates of Caliber and Verus brought deals collateralized by seasoned loans.
The amount of jumbo servicing outstanding among a group of 30 firms tracked by INM declined by 1.2% during the third quarter. Three big banks saw their portfolios shrink while First Republic increased its receivables.
After sharply limiting its aggregation due to volatility from the coronavirus, Redwood has re-entered the jumbo MBS market. Meanwhile, issuers of expanded-credit deals continue to stock their MBS with older loans.
Non-agency forbearance increases; SFVegas delayed to late July; Maxex offering preferred pricing on jumbos to certain lenders; NewRez non-QM VP opening; PCMA hires VP of direct channel originations.
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