Originations fell by 20% as the market was disrupted in March by the coronavirus. Most of the major lenders suspended production during the month, ending the quarter with declines. (Includes data chart.) Read More
After issuance ground to a halt in March, five non-QM MBS deals came to the market in May and more are on the way. Transactions have been stocked with slightly seasoned mortgages. Read More
Among the lenders currently offering non-QMs, underwriting standards are tighter and interest rates on the loans are higher than earlier in the year. Industry participants are optimistic that the sector will rebound, eventually. Read More
For the first time in years, the amount of jumbo mortgage servicing outstanding declined on a quarterly basis. Looking forward, forbearance requests are a key issue. (Includes data chart.) Read More
A $335 million deal from Goldman Sachs is the first prime non-agency MBS in the market since mid-March. The transaction includes mortgages originated in the past few months. Read More
A coalition of industry trade groups asked the SEC to revise standards for publicly registered non-agency MBS. They suggested aligning standards with practices for private placements. Read More
Beginning in March, the GSEs loosened certain appraisal standards due to complications from the coronavirus. A number of non-agency lenders are following the GSEs’ lead. Read More