Chase was the most active player in the non-agency MBS market in late July, with deals involving jumbos, investment-property mortgages and a risk-sharing transaction.

More than a year after volatility from the coronavirus disrupted operations for many non-QM lenders, new products are being launched and underwriting standards are being relaxed.

Sales of homes to investors hit a record in the second quarter. Interestingly, the surge is happening as the GSEs cut back on investment-property loan acquisitions.

Non-agency forbearance increases; Sachem inks $200 million repo line; review of risk-retention requirements extended; Angel Oak plans to expand its digital capabilities; Liquid Mortgage receives patent; Home Diversification Corp. for sale.

Mortgage securitizations from Freedom Mortgage and New Residential Investment are backed by servicing fees, while Rapid Financial Services is peddling its first small-business ABS since 2018.

During a Capitol Hill hearing, House Democrats focused on credit rating shortcomings that allowed for the subprime crisis of 2007-2008 and inadequate reforms that followed.

Margins on the aggregation of jumbos came back down to earth while Redwood's business purpose lending unit flourished...

The new standards mirror FHFA’s existing requirements in many ways, while extending the provisions to non-agency mortgages. CSBS also provided a few breaks to the industry.

Nomura issued its first investment-property non-agency MBS in May.

Overall, the states largely opted to follow capital and liquidity requirements set by the FHFA...