Chase is set to issue a $750 million deal while Chimera is planning a $362 million MBS. Both securities are stocked with jumbos along with mortgages eligible for sale to the GSEs.

Non-agency forbearance numbers increase; Redwood CEO calls on Fed to include non-agency MBS in TALF; Fitch revises rating criteria; Citigroup’s jumbo aggregator assessed as “average” by Moody’s; Chase brings risk-sharing deal on seasoned loans; Ocwen turns slight profit in 2Q.

Delinquencies and loan modifications on non-agency mortgages increased in May, but at a slower rate than the sharp increase in April. Delinquencies are much higher on non-QMs than jumbos.

Wells Fargo is maintaining its steady issuance of prime non-agency MBS while a pending deal from Neuberger Berman is much larger than the expanded-credit MBS the firm issued in May.

United Wholesale Mortgage reached the top spot by more than doubling its sales of jumbo mortgages during 2019. Banks purchased nearly 60% of jumbos sold during the year. (Includes data chart.)

California, already the largest state in terms of jumbo originations, increased volume by 50% in 2019. Overall, jumbo originations increased by 37% last year. (Includes data chart.)

The proposal could eliminate GSE eligibility as a standard for a loan to be deemed a qualified mortgage. The regulator aims to level the playing field between the non-agency market and Fannie/Freddie.

Three prime non-agency deals were brought to market at the end of June. One of them is backed by GSE-eligible investment-property loans.

The retail channel lost market share in the jumbo sector during the first quarter of 2020. However, retail remains the predominant source of originations for the product. (Includes data chart.)

Wells Fargo is set to issue a $478.1 million jumbo MBS, marking only the second deal of the quarter.