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Inside Nonconforming Markets

May 15, 2020

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Jumbo Originations Drop Nearly 22% in First Quarter

The jumbo market was humming along at the start of the year until volatility from the coronavirus disrupted lending in March. Originations of jumbos declined sharply and the sector lost market share. (Includes data chart.) Read More

Share of Noncore GSE Business Increases in 1Q

In areas where the GSEs are seen as competing with the non-agency market, business was good for the GSEs in the first quarter of 2020. (Includes data chart.) Read More

Issuance of Non-QM MBS Resumes with Neuberger Deal

Neuberger Berman issued a non-QM MBS this week, ending a lull in issuance that started in late February due to volatility from the coronavirus. Other issuers also plan to return to the market. Read More

Non-QM Lending is Perking Up After Near Shut Down

Angel Oak is originating non-QMs again and a handful of other shops plan to re-enter as well. However, some lenders continue to hold off. Read More

1Q Loss Forces Redwood to Up Liquidity, Tweak Funding

Redwood took a $943 million loss in the first quarter amid volatility from the coronavirus. The REIT laid off about 35% of its employees in April, among other adjustments. Read More

Non-Agency Players Urged to Set Uniform Standards for Forbearance

The non-agency MBS market could face problems if it fails to set uniform standards on forbearance, according to the Milken Institute. Read More

Velocity Turns Slight Profit in 1Q, Plans Securitization

Profit at Velocity Financial declined in the first quarter and half the staff was temporarily furloughed. Still, the firm plans to issue an MBS in the coming weeks and get back on track. Read More

Smaller Non-Agency Lending Continues With Adjustments

Lenders that focus on residential investment properties continue to originate loans, albeit with tighter standards and at higher interest rates. Read More

News Briefs

SLS settles foreclosure issue; KBRA places non-agency MBS on watch for downgrades; Provenance blockchain platform facilities loan sales. Read More

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