While the share of loans in forbearance continues to decline, the borrowers who remain in relief could be more difficult to help, according to industry analysts.
This summer, non-cash-flowing loans as a share of aggregate current balance of non-agency MBS ranged from around 5% of post-2010 prime non-agency MBS to as high as 26% for legacy deals...
The issuance of prime non-agency MBS doubled from the second to the third quarter. United Wholesale Mortgage contributed close to 25% of the securitized loans during the period. (Includes two data charts.)
First Republic Bank increased its originations by 15.8% in the third quarter and Flagstar Bank posted a 33.3% increase in jumbo lending compared to 2Q20.
New Residential ranked sixth among expanded-credit originators in 2019. The lender has been slower than other major players to restart non-QM lending due to a surge in agency refi business.