A failure by the non-agency market to set standards for forbearance could harm borrowers and the market, according to a paper published by the Milken Institute.
New Residential can easily handle costs associated with servicing advances and the nonbank is primed to "make a lot of money," according to CEO Michael Nierenberg...
All of the mortgages in MFA’s planned MBS were originated by Citadel, leading to speculation that the deal was scrapped. However, a spokesperson for MFA said the REIT still plans to issue the security.
The types of mortgages included in expanded-credit MBS changed somewhat during the first quarter of 2020, even before COVID-19 hit. (Includes three data charts.)
Annaly’s investments in non-agency assets fell by 33% between the end of 2019 and March 31. The REIT sold some of its holdings and issued two non-agency MBS during the first quarter.