Investors and borrowers alike are showing strong demand for fix-and-flip business purpose loans. Originators see volume rising and new players are entering the sector.

Non-QM impairment rate declines in April; non-agency forbearance update; Laurie Goodman appointed chair of MFA Financial’s board; White Mountain Capital boosting loan acquisitions; Synergy One offering HELOC with blockchain tech; capital raises and new financing for financing providers that allow homebuyers to make cash offers; Canopy approved by DBRS as due diligence provider.

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.

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

Non-QM impairments decline; non-agency forbearance rate improves; non-agency reverse mortgage lender settles with CFPB; Redwood paying for its employees’ MI; PCMA partners with various advisors.

CSBS scaling back proposed standards for large nonbank servicers; SFA offers disclosures for non-agency MBS performance; non-agency forbearance increases; non-agency mortgage conduit launches; Redwood invests in finance company involved in SFR/bridge lending; PCMA expanding geographically.

The impairment rate on securitized non-QMs hit 11.1% at the end of February. At the end of 2020, the rate stood at 10.3% after months of steady improvement.

Legal analysts say the bureau’s across-the-board delay on foreclosure starts could face legal challenges. Meanwhile, consumer advocates call for more stringent requirements.

The investment-property lender boosted income in 4Q20 with a whole-loan sale. The firm is also planning to issue an MBS backed by recently funded loans in 2Q21.

The share of fix-and-flip home sales completed with financing declined on an annual basis for the first time in a decade.