Caliber Affiliate Brings its Second Post-Volatility Non-QM MBS June 18, 2020 Brandon Ivey Lone Star Funds is the first non-QM MBS issuer to have a second deal in the market since activity resumed in May. Read More
Retail Share of Jumbo Lending Declines Slightly in First Quarter June 17, 2020 Brandon Ivey The top three jumbo lenders are big banks with different strategies for the sector. Read More
Short Takes: 32% Forbearance Payment Rate for Caliber / Late Fees, Then and Now / Goldman’s New MBS / Black Knight Looking at Acquisitions? / A New Hire for Greystone June 17, 2020 Paul Muolo and Brandon Ivey Goldman is prepping a $416.4 million MBS backed solely by mortgages for investment properties...Read More
Deephaven Readies Non-QM MBS with Slightly Seasoned Loans June 17, 2020 Brandon Ivey Loans in the $351.5 million MBS have seasoned for an average of five months and 24% are in forbearance. Read More
Short Takes: Non-QM Standards Begin to Loosen / Still Waiting to Hear... / Phoenix Capital Markets Forbearance Loans / Too Much Hope on GSE Stock Offering? June 16, 2020 Paul Muolo and Brandon Ivey COVID-19? It appears that non-QM underwriting standards are beginning to loosen once again...Read More
MFA Takes $914 Million Loss in 1Q, Raises $500 Million of Capital June 16, 2020 Brandon Ivey MFA held $4.3 billion of non-QMs at the end of March... Read More
Short Takes: Moody’s Worries About Servicing / Rising Costs Due to Forbearance / An NPL Non-QM Auction / In Forbearance by Mistake / A Big Loss For AG’s REIT June 15, 2020 Paul Muolo and Brandon Ivey Over the next 12 months it stands to reason that servicing costs will increase because of forbearance issues.Read More
Velocity Completes Unrated Securitization, Plans to Resume Lending in 3Q June 15, 2020 Brandon Ivey Velocity planned to issue an MBS in April but volatility from the coronavirus disrupted its plans...Read More
Delinquencies on Non-QM MBS Spike. Impairment Rate North of 16% June 15, 2020 Brandon Ivey Self-employed borrowers had the worst performance, on average, followed by loans for investment properties... Read More
Retail Share of Jumbo Lending Declines Slightly in First Quarter June 12, 2020 Brandon Ivey The retail channel lost market share in the jumbo sector during the first quarter of 2020. However, retail remains the predominant source of originations for the product. (Includes data chart.)Read More