Non-agency mortgage lenders face uncertainty as the new CFPB director could choose to revise the QM standards established during the final months of the Trump administration.

Shellpoint was named as servicer on $7.31 billion of non-agency MBS issued during the third quarter. Cenlar, a major subservicer in the sector, is under a consent order with the OCC. (Includes data chart.)

Chase and Rocket are offering separate non-agency MBS sized at more than $1.0 billion each and stocked with jumbo mortgages. There’s also plenty of GSE-eligible loans for investment properties in the market.

Mixed trends for non-agency mortgage performance; Pretium acquires fix-and-flip lender Anchor; Guild offering no downpayment jumbos to doctors; Sachem ups profits in 3Q; new home-equity lender raises capital.

Securitizing loans originated by Genesis could generate returns of nearly 20% for New Residential. The acquisition is set to close later this year.

There’s plenty of non-agency MBS with GSE-eligible mortgages for investment properties, along with prime jumbo deals, expanded-credit mortgages and even some esoteric collateral.

Non-QM lender Newfi changing hands; Redwood invests in due diligence provider Canopy; Sprout offers bank statement analysis.

Prime jumbos and loans eligible for sale to the GSEs helped propel the non-agency MBS market to a post-2010 record in the third quarter of 2021. Issuance of expanded-credit MBS lagged. (Includes data chart.)

The supply of mortgages for non-agency MBS is expected to decline, leading to concerns that industry participants might loosen underwriting standards to prop up volumes.

AGMIT sold off the last of its investments in commercial mortgages in September, with plans to increase investments in non-QMs and other non-agency mortgages.