Trade groups representing lenders are urging regulators to maintain the link between QMs and loans exempt from mandatory risk retention.

Non-agency forbearance reading increases; non-QM lenders make personnel moves; Moody’s withdraws its jumbo assessment of Quicken Loans, Regions Bank to acquire home-improvement lender.

Nomura is set to enter the market with a deal backed by non-agency mortgages for investment properties while two other issuers also have deals with newer non-QMs. There’s also a rare non-agency MBS with jumbo reverse mortgages.

The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.

Angel Oak Mortgage, which primarily invests in non-QMs originated by affiliates of Angel Oak Companies, plans to become a public company.

A reduction in GSE refi business along with regulatory changes are expected to prompt an increase in originations of non-agency mortgages. The bulk of the increase could come from prime loans.

A number of firms are working to increase originations of non-QMs and ramping up investments in the loans. It can be a highly profitable business, though investor demand is volatile.

As an increase in interest rates curtailed its GSE refi volume, Impac is rushing to ramp up originations of non-QMs. The firm also plans to issue its own MBS.

A flurry of non-agency MBS hit the market; the number of non-agency mortgages in forbearance increases; SFA raises concerns about CFPB’s proposal to establish a partial foreclosure moratorium; SFA to set up data tape task force; Sachem Capital generates $2.2 million of net income in 1Q21; new industry hires.

The real estate investment trust also plans to acquire business-purpose loan originator Lima One.