While some of the adjustments were initially thought to be temporary, lenders are preparing to make some permanent changes.

The revival included first-time EC MBS issuers as well...

The proposal could eliminate GSE eligibility as a standard for a loan to be deemed a qualified mortgage. The regulator aims to level the playing field between the non-agency market and Fannie/Freddie.

Eleven expanded-credit MBS have been introduced since June 15, with a total unpaid principal balance of $3.4 billion.

Three prime non-agency deals were brought to market at the end of June. One of them is backed by GSE-eligible investment-property loans.

The naysayers doubt nonbank originators and servicers have sufficient capital and liquidity to weather a storm.

Bank and thrift holdings of first liens increased just 0.3% in the first quarter. While BofA’s portfolio increased, Wells and Chase cut theirs. (Includes data chart.)

A recent cash infusion will help MFA Financial revive its first ever non-QM MBS. The deal had been put on hold because of the pandemic.

Sales of non-QMs at distressed prices accounted for a large share of the nearly $65 million loss Impac took in the first quarter.