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    <title>Performance</title>
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    <item>
      <title>Mixed Trends in Performance of Expanded-Credit MBS</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Delinquencies and loan modifications on securitized non-QMs resumed increasing in May. Issuance from 2023 is performing worse than prior vintages while deals from 2024 have benefited from improved underwriting.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234776</guid>
      <pubDate>Fri, 11 Jul 2025 14:03:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234776-mixed-trends-in-performance-of-expanded-credit-mbs</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Impairment rate on non-QMs declines; new issuers of home equity loan securitizations; bank offers new jumbo ARMs via wholesale channel; proprietary reverse-mortgage product from Liberty Reverse Mortgage.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234173</guid>
      <pubDate>Fri, 02 May 2025 13:02:34 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234173-news-briefs</link>
    </item>
    <item>
      <title>Recently Issued ECM MBS Facing Rising Delinquencies</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Looser underwriting standards for loans in expanded-credit MBS issued in 2023 are leading to higher delinquency rates.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/230099</guid>
      <pubDate>Fri, 02 Feb 2024 14:58:59 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/230099-weaker-collateral-for-non-qm-2023-vintage-drives-higher-delinquencies</link>
    </item>
    <item>
      <title>Non-QM Delinquencies Jump in November</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Delinquencies on non-qualified mortgages spiked in November, adding to a “worrying” trend, according to dv01.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/229842</guid>
      <pubDate>Fri, 05 Jan 2024 14:31:51 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/229842-non-qm-delinquencies-on-the-rise</link>
    </item>
    <item>
      <title>Non-QM MBS Behavior Swings with Interest Rates</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The performance of expanded-credit MBS was attractive to investors until interest rates increased throughout 2022. Higher rates cut into excess interest and slowed build-up of credit enhancement levels on outstanding deals.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/227089</guid>
      <pubDate>Fri, 24 Feb 2023 09:24:24 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/227089-non-qm-mbs-behavior-swings-with-interest-rates</link>
    </item>
    <item>
      <title>Non-QM Performance Declines for Third Straight Month</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The impairment rate on securitized non-QMs posted its largest one-month jump in November since the early days of the pandemic. Hurricane Ian was a factor.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/226718</guid>
      <pubDate>Fri, 13 Jan 2023 13:32:48 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/226718-non-qm-performance-declines-for-third-straight-month</link>
    </item>
    <item>
      <title>Expanded-Credit Market Limping Along with Cautious Investors</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Demand for non-QMs in the secondary market remains weak. Investors are concerned about the prepayment profile of the loans, among other issues.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/226072</guid>
      <pubDate>Fri, 28 Oct 2022 13:29:11 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/226072-expanded-credit-market-limping-along-with-cautious-investors</link>
    </item>
    <item>
      <title>Subprime Servicers More Lenient in Judicial Foreclosure States</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Distressed borrowers with subprime mortgages in states with a judicial foreclosure process achieve non-foreclosure outcomes at a higher rate than similar borrowers in states that don’t have a such a process, according to findings from a new paper.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/225951</guid>
      <pubDate>Fri, 14 Oct 2022 11:54:19 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/225951-subprime-servicers-more-lenient-in-judicial-foreclosure-states</link>
    </item>
    <item>
      <title>Non-Agency MBS Investors Protected from Failing Lenders</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Improvements to practices in the non-agency MBS market will help to protect investors from lenders that don’t make it through the current market contraction, according to Kroll Bond Rating Agency.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/225683</guid>
      <pubDate>Fri, 16 Sep 2022 13:51:05 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/225683-non-agency-mbs-investors-protected-from-failing-lenders</link>
    </item>
    <item>
      <title>CDFIs Under Scrutiny as their Non-QM Lending Increases</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Kroll Bond Rating Agency published a report focusing on mortgages originated by CDFIs and their inclusion in non-agency MBS. The Change Company defended its practices while Quontic Bank stopped offering “no ratio” loans.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/224859</guid>
      <pubDate>Fri, 10 Jun 2022 09:19:38 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/224859-cdfis-under-scrutiny-as-their-non-qm-lending-increases</link>
    </item>
    <item>
      <title>Delinquencies on Non-QMs Tick Up in April</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[After more than a year of steady declines in delinquencies on securitized non-QMs, delinquency rates have fluctuated in recent months.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/224865</guid>
      <pubDate>Fri, 10 Jun 2022 09:01:46 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/224865-delinquencies-on-non-qms-tick-up-in-april</link>
    </item>
    <item>
      <title>Delinquencies on Investment Properties March to their Own Beat</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[A look at the performance of investment-property loans reveals some differences between GSE-eligible loans and non-agency mortgages. Performance also differed from owner-occupied prime jumbos and non-QMs.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/224084</guid>
      <pubDate>Fri, 18 Mar 2022 12:14:21 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/224084-delinquencies-on-investment-properties-march-to-their-own-beat</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Fitch’s review of 225 non-agency MBS prompts downgrade of a single tranche; Unison issues securitization with residential equity agreements; Carrington offers to complete certain non-QM origination tasks for brokers.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223838</guid>
      <pubDate>Fri, 18 Feb 2022 16:00:53 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223838-news-briefs</link>
    </item>
    <item>
      <title>Non-Agency MBS Servicing Volume for SPS Leaps in Fourth Quarter</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Select Portfolio Servicing added nearly twice as much servicing from just-issued non-agency MBS in the fourth quarter as it did in the third. Shellpoint remains the largest servicer of recently issued non-agency MBS. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223679</guid>
      <pubDate>Fri, 04 Feb 2022 10:08:44 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223679-non-agency-mbs-servicing-volume-for-sps-leaps-in-fourth-quarter</link>
    </item>
    <item>
      <title>Nonprime Servicing Portfolios Unchanged in Third Quarter</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The amount of nonprime servicing handled by a group of 15 firms was essentially flat between the end of June and the end of September. Three of the top five firms in the sector saw their portfolios shrink. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223158</guid>
      <pubDate>Fri, 03 Dec 2021 14:10:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223158-nonprime-servicing-portfolios-shrink-again-in-third-quarter</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[UWM is offering its first non-QM product in years; the impairment rate on securitized non-QMs declined somewhat in October.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/223175</guid>
      <pubDate>Fri, 03 Dec 2021 14:00:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/223175-news-briefs</link>
    </item>
    <item>
      <title>Shellpoint Top Servicer of Loans in Non-Agency MBS </title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Shellpoint was named as servicer on $7.31 billion of non-agency MBS issued during the third quarter. Cenlar, a major subservicer in the sector, is under a consent order with the OCC. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/222926</guid>
      <pubDate>Fri, 05 Nov 2021 10:06:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/222926-shellpoint-outpaces-competition-among-non-agency-mbs-servicers</link>
    </item>
    <item>
      <title>Non-QM Impairment Rate Up for the First Time in Months</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The share of securitized non-QMs that are delinquent or modified increased in August for the first time since February. Still, industry analysts are comfortable with the long-term outlook for performance.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/222647</guid>
      <pubDate>Fri, 08 Oct 2021 12:10:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/222647-impairment-rate-on-non-qms-increases-for-first-time-in-months</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[CoreVest issued a securitization involving bridge loans for residential properties; a prime non-agency MBS issued by JPMorgan Chase in 2018 is on watch for a downgrade.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/222530</guid>
      <pubDate>Fri, 24 Sep 2021 09:45:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/222530-news-briefs</link>
    </item>
    <item>
      <title>SPS, Cenlar, Flagstar Boost Non-Agency MBS Servicing in 2Q</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The three servicers added significant volume to their portfolios thanks to the surge in non-agency MBS issuance during the second quarter of 2021. The performance of securitized loans also continues to improve. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/222184</guid>
      <pubDate>Fri, 13 Aug 2021 12:10:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/222184-sps-cenlar-flagstar-boost-non-agency-mbs-servicing-portfolios-in-2q</link>
    </item>
    <item>
      <title>Non-QM Performance Continues to Improve, Few New Delinquencies</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The impairment rate on securitized non-QMs fell to 7.9% at the end of May. Prepayments in the sector remain elevated as borrowers refinance.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221899</guid>
      <pubDate>Fri, 16 Jul 2021 13:30:54 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221899-non-qm-performance-continues-to-improve-few-new-delinquencies</link>
    </item>
    <item>
      <title>Nonprime Servicing Portfolios Continue to Shrink in 1Q21</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Chase’s nonprime servicing portfolio increased tenfold to $44.40 billion at the end of March. The spike was due to a change in the way the bank reports numbers and not because of an influx of new servicing. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221653</guid>
      <pubDate>Fri, 18 Jun 2021 09:56:23 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221653-nonprime-servicing-volume-largely-down-across-servicers-in-first-quarter</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Non-QM impairment rate declines in April; non-agency forbearance update; Laurie Goodman appointed chair of MFA Financial’s board; White Mountain Capital boosting loan acquisitions; Synergy One offering HELOC with blockchain tech; capital raises and new financing for financing providers that allow homebuyers to make cash offers; Canopy approved by DBRS as due diligence provider.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221549</guid>
      <pubDate>Fri, 04 Jun 2021 08:19:28 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221549-news-briefs</link>
    </item>
    <item>
      <title>Three Firms Dominate Non-Agency MBS Servicing in 1Q21</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221524</guid>
      <pubDate>Wed, 02 Jun 2021 13:13:26 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221524-three-firms-dominate-non-agency-mbs-servicing-in-first-quarter</link>
    </item>
    <item>
      <title>Blockchain Touted as Pivotal for Non-Agency MBS</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Redwood is trying to shift blockchain from a buzzword to practical technology for the non-agency MBS market. The firm made an investment in Liquid Mortgage, a blockchain-focused startup.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221171</guid>
      <pubDate>Fri, 23 Apr 2021 15:20:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221171-blockchain-touted-as-pivotal-for-non-agency-mbs</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[CSBS scaling back proposed standards for large nonbank servicers; SFA offers disclosures for non-agency MBS performance; non-agency forbearance increases; non-agency mortgage conduit launches; Redwood invests in finance company involved in SFR/bridge lending; PCMA expanding geographically.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221178</guid>
      <pubDate>Fri, 23 Apr 2021 15:10:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221178-news-briefs</link>
    </item>
    <item>
      <title>Non-QM Impairment Rate Increases for Second Straight Month</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The impairment rate on securitized non-QMs hit 11.1% at the end of February. At the end of 2020, the rate stood at 10.3% after months of steady improvement.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221040</guid>
      <pubDate>Fri, 09 Apr 2021 15:45:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221040-non-qm-impairment-rate-increases-for-second-consecutive-month</link>
    </item>
    <item>
      <title>CFPB Foreclosure Delay Plan Includes Non-Agency Loans</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Legal analysts say the bureau’s across-the-board delay on foreclosure starts could face legal challenges. Meanwhile, consumer advocates call for more stringent requirements.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/221035</guid>
      <pubDate>Fri, 09 Apr 2021 15:35:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/221035-cfpb-proposes-foreclosure-delay-that-would-apply-to-non-agency-loans</link>
    </item>
    <item>
      <title>Shellpoint Tops Non-Agency MBS Servicers in 2020</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Shellpoint processed more than 25% of the dollar volume of non-agency MBS issued in 2020. Servicers continue to grapple with elevated delinquencies, forbearance and concerns about disclosures. (Includes data chart.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/220526</guid>
      <pubDate>Fri, 12 Feb 2021 10:10:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/220526-shellpoint-tops-non-agency-mbs-servicers-in-2020</link>
    </item>
    <item>
      <title>Non-Agency Loan-Mod Practices Vary Widely</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Forbearance offers depend on what’s allowed by non-agency MBS contracts, but some deals don’t address the issue at all.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/219958</guid>
      <pubDate>Fri, 11 Dec 2020 14:40:00 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/219958-non-agency-loan-mod-practices-vary-widely</link>
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