UWM has its own non-agency MBS shelf, allowing the lender/servicer to directly issue deals. However, the company continues to contribute mortgages to non-agency MBS issued by others.
The Mortgage Bankers Association and the Housing Policy Council are calling on Ginnie Mae to end temporary pooling restrictions imposed on reperforming loans during the pandemic.
The latest delay to implementation of margin requirements for agency MBS is tied to changes proposed to Rule 4210 following FINRA’s discussions with staff at the Federal Reserve and the SEC.
Nick Maciunas, head of agency research at JPMorgan, spoke about how COVID-related forbearance loan modifications may impact Ginnie investors during a recent podcast hosted by the agency.
Non-agency MBS hit the market ahead of Thanksgiving; rating upgrades possible with new commercial MBS methodology at Moody’s; timeshare securitization performance stable; Fitch extends comment period for proposed criteria to rate shipping container ABS; California launches tobacco-settlement securitization.
The public REIT portion of the Angel Oak Companies non-QM machine nearly tripled its income in the third quarter thanks to an increase in loan acquisitions and an MBS issuance.
The largest non-agency MBS on offer in the past two weeks was a $762 million deal from United Wholesale Mortgage. Barclays Capital is also set to issue an expanded-credit MBS.
Nearly $4.0 billion of non-agency MBS with mortgages for investment properties was on offer in the past two weeks. Many of the deals are backed by GSE-eligible mortgages.