Shellpoint Mortgage Servicing is the top servicer, by far, of non-agency MBS issued since the beginning of 2019. The firm handles both prime loans and expanded-credit mortgages. (Includes data chart.) Read More
The lack of standardization in the non-agency MBS market has raised concerns about how servicers are handling loans in forbearance. Critical details regarding loan performance are missing, according to investors. Read More
Demand for non-QMs in the secondary market is helping lenders loosen underwriting standards and drive down interest rates for new production. Five non-QM MBS hit the market in the past two weeks. Read More
Production of higher-priced conventional mortgages increased in 2019, though the loans still have a relatively low market share. The top lender was a firm that focuses on loans for manufactured housing. (Includes two data charts.) Read More
Chase is set to issue a $750 million deal while Chimera is planning a $362 million MBS. Both securities are stocked with jumbos along with mortgages eligible for sale to the GSEs. Read More
Non-agency forbearance numbers increase; Redwood CEO calls on Fed to include non-agency MBS in TALF; Fitch revises rating criteria; Citigroup’s jumbo aggregator assessed as “average” by Moody’s; Chase brings risk-sharing deal on seasoned loans; Ocwen turns slight profit in 2Q. Read More