A handful of lenders continue to originate non-qualified mortgages while the major players in the market pause production.

Delinquencies on non-agency mortgages are likely to increase due to the coronavirus, with the largest impact expected on non-QMs.

First Republic Bank doesn’t plan to chase market share even as other jumbo lenders tighten underwriting standards.

The active non-QM funders include ACC Mortgage, A&D Mortgage, First National Bank of America, Newfi Lending and Silvergate Bank. (Silvergate, up until recently, was also a warehouse provider of non-QM products.)

Velocity Financial was increasing originations and income, then the coronavirus hit, halting issuance of a planned MBS and prompting the need for additional capital.

Investments in non-agency assets were offloaded by Annaly and MFA. Some of the loans sold by MFA were likely meant for a non-QM MBS that didn’t close in March.

Fitch proposes changes to MBS rating criteria; Ocwen faces NYSE delisting; Nationwide Equities launches non-agency reverse mortgage.

A $200 million ABS backed by oil and gas assets closed this week while presale reports were published for four auto-backed transactions.

MFA Financial and AG Mortgage Investment Trust have staved off margin calls from most of their financiers for at least two weeks.

S&P bumps its outlook to negative on three nonbanks, while maintaining a stable rating on two others. Some are key players in GNMAs.