Loan limit projections for 2021; non-agency forbearance declines; Sterling takes losses on non-QM buybacks; Anworth's MBS plans whither; Griffin launches jumbo product; Citadel offering three-month bank statement loans; BBVA offering Prosper-powered HELOC.

New Residential ranked sixth among expanded-credit originators in 2019. The lender has been slower than other major players to restart non-QM lending due to a surge in agency refi business.

Western Alliance plans to offer warehouse lines of credit to lenders that work with Galton then retain some of the lenders’ originations.

Some $1.64 billion of expanded-credit MBS and $1.06 billion of prime non-agency MBS hit the market in the past two weeks. The expanded-credit deals were stocked with older loans.

CFPB officially extends QM patch; forbearance rate for non-agency mortgages increases; virtual forum on non-QMs.

The share of mortgages for investment properties in expanded-credit MBS increased during the third quarter along with average credit scores. The age of loans going into securitized deals is also rising. (Includes three data charts.)

Originating non-QMs didn’t work out so well for Sterling Bank. After finding compliance issues, the bank ended its non-QM program and started to repurchase loans sold into MBS.

Imperial Fund, an affiliate of A&D Mortgage, issued its first non-QM MBS this week. Loans in the deal are concentrated in Florida and more than 15% went to foreign nationals or non-resident aliens.

Galton has issued more than $1.0 billion in expanded-credit MBS since the start of 2019. Western Alliance will place Galton within its warehouse lending unit.

The Conference of State Bank Supervisors said the new proposed standards for nonbank servicers will not only align with federal guidelines but also widen the net to include servicing of non-agency mortgages.