The SFA is working to establish a standards-setting organization that would help increase investments in non-QMs. And the association wants prime non-agency MBS to be included in any future revival of TALF.
President Biden plans to nominate Alanna McCargo to be the next president of Ginnie Mae; Credit Suisse’s warehouse lending securitization involving non-QMs upsized.
The $500 million deal allows financing of non-QMs. Moody’s placed a preliminary A1 rating on the deal, while it typically gives a AAA rating on warehouse funding securitizations that focus on GSE-eligible loans.
MISMO and SFA are separately working to update the ASF dataset for non-agency MBS; BNY Mellon is offering new agency MBS service; a relatively rare downgrade for commercial MBS.
Thanks to restrictions placed on the GSEs, investment-property mortgages are flowing into non-agency MBS. Some lenders are issuing deals on their own while others are turning to aggregators like Credit Suisse.
With new restrictions on GSE sales, lenders are increasingly turning to the non-agency MBS market to sell mortgages for investment properties. Issuers include new and established participants.
RSS