Citadel has contributed non-QMs to MBS issued by other firms while never issuing its own security. Meanwhile, an MBS from MFA Financial with loans from Citadel is on hold.
The loan, structured by Canyon Partners with participation from credit funds managed by affiliates of Fortress Investment Group, essentially doubled the amount of cash New Residential has on its balance sheet.
Interest rates remain low and not one major (or even mid-sized) nonbank conventional lender has closed its doors. Some shops are even reporting record loan volumes in the pandemic era…
The jumbo market was humming along at the start of the year until volatility from the coronavirus disrupted lending in March. Originations of jumbos declined sharply and the sector lost market share. (Includes data chart.)