Nonprime servicing portfolios fell by 0.7% in 4Q20 and 4.1% year-over-year. But Select Portfolio Servicing boosted its receivables during the year. (Includes data chart.)

A number of lenders have introduced new non-agency products with looser underwriting guidelines in recent weeks. Rocket and United Wholesale offered jumbos and Deephaven widened expanded-credit products.

Issuers of non-agency MBS brought four jumbo deals to the market this week. Some shops closed securitizations with esoteric collateral.

A January agreement between the Treasury and FHFA, which places limits on mortgage acquisitions by the GSEs, could send some business to the non-agency market. The limits apply to high-risk mortgages as well as loans for investment properties and second homes. (Includes data chart.)

In the span of two days, Chase offered a first-of-its-kind risk-sharing transaction involving non-qualified mortgages and two prime non-agency MBS, including one with a balance of $1.10 billion.

The QM patch was scheduled to end July 1, but the timeline has been delayed as a Biden CFPB considers its options. The bureau might also revoke the newly-created category of seasoned QMs.

Ellington Financial and Credit Suisse are set to issue the first MBS with newly-originated non-QMs since the market was disrupted in March 2020.

After reducing its non-agency investments amid volatility from the coronavirus, Annaly is ready to ramp up activity in the sector. The REIT is acquiring non-QMs and packaging them into MBS.

Non-agency forbearance increases; personnel moves at Deephaven, Wells Fargo and Quontic; new non-agency MBS; a jumbo mortgage symposium; PCMA loosens standards for jumbo product.

The CFPB’s acting director has asked bureau officials to explore options to maintain the status quo on QM standards with less than a month left before the new rule takes effect.