There's been chatter in the market regarding refi churning by loan brokers...

Nearly 30% of borrowers with loans in the deal have received forbearance or a deferral. The servicer, Citadel, will not make advances on delinquent payments.

The thirst for non-QM paper continues to be rad hot, thanks, in part, to investors’ desire for yield. It comes down to this: a 5% non-QM, though comparatively risky, is better than a 10-year Treasury yielding 95 basis points.

Quicken Loans is the top contributor to the new Morgan MBS, accounting for 36.3% of the collateral.

Guild's GOS: 562 basis points for the third quarter compared to 502 for the first half...