Non-agency mortgage lenders face uncertainty as the new CFPB director could choose to revise the QM standards established during the final months of the Trump administration.

Shellpoint was named as servicer on $7.31 billion of non-agency MBS issued during the third quarter. Cenlar, a major subservicer in the sector, is under a consent order with the OCC. (Includes data chart.)

Chase and Rocket are offering separate non-agency MBS sized at more than $1.0 billion each and stocked with jumbo mortgages. There’s also plenty of GSE-eligible loans for investment properties in the market.

Mixed trends for non-agency mortgage performance; Pretium acquires fix-and-flip lender Anchor; Guild offering no downpayment jumbos to doctors; Sachem ups profits in 3Q; new home-equity lender raises capital.

Overall, delinquency rates for commercial MBS have improved each month since a peak in June 2020. However, loans tied to office and hotels with an emphasis on corporate travel are slower to recover.

Congress is getting closer to passing legislation that would help legacy MBS and ABS transition away from LIBOR; there’s a securitization angle in Zillow’s move to discontinue its fix-and-flip business.

Velocity's share price was up modestly Thursday, not too far from its 52-week high of $13.80...

Community Reinvestment Act requirements that traditionally have only applied to depositories will be imposed on nonbanks in New York. The MBA warned that the standards are “unworkable.”

The MBA warned that New York's new requirements for nonbank lenders are "unworkable."

In August, Ginnie sought comments on the capital standards. While some of the changes would apply to all servicers, others would apply specifically to nonbanks, the dominant players in the agency’s MBS program.