Trump-era GSE policies that helped boost activity in the non-agency market could be reversed as Biden appointees take charge at the FHFA.

The CFPB scaled back a proposed foreclosure moratorium and declined a request to exempt non-agency loans from the new standards.

Lock volume for planned acquisitions of jumbo mortgages declined in the second quarter at Redwood Trust. Still, officials are optimistic about growth in the non-agency market.

Nearly 70% of the non-QMs originated in 2020 included an IO term, according to a new INM analysis. The top two lenders were banks. (Includes data chart.)

Churchill Real Estate launched a table funding option, Toorak a securitization and Sachem raised $43 million via a stock sale. Meanwhile, the fix-and-flip market was on the decline in the first quarter.

While many non-QM lenders suspended production last year, A&D Mortgage’s direct connection to the MBS market placed it in good stead.

Originations of adjustable-rate mortgages declined by 15% on a sequential basis in the first quarter of 2021. The ARM share of total originations also fell below 5%. (Includes data chart.)

Maxex receives new funding; Angel Oak expands retail branches; Ocwen to acquire Reverse Mortgage Solutions; non-agency forbearance flat.

The $303 million deal is the third MBS from Angel Oak this year and the largest of the three.

The MBS will be the first from Citi with GSE-eligible loans and it marks PennyMac's return to the sector after years away.