The lack of standardization in the non-agency MBS market has raised concerns about how servicers are handling loans in forbearance. Critical details regarding loan performance are missing, according to investors.
Demand for non-QMs in the secondary market is helping lenders loosen underwriting standards and drive down interest rates for new production. Five non-QM MBS hit the market in the past two weeks.
Production of higher-priced conventional mortgages increased in 2019, though the loans still have a relatively low market share. The top lender was a firm that focuses on loans for manufactured housing. (Includes two data charts.)
Chase is set to issue a $750 million deal while Chimera is planning a $362 million MBS. Both securities are stocked with jumbos along with mortgages eligible for sale to the GSEs.
Non-agency forbearance numbers increase; Redwood CEO calls on Fed to include non-agency MBS in TALF; Fitch revises rating criteria; Citigroup’s jumbo aggregator assessed as “average” by Moody’s; Chase brings risk-sharing deal on seasoned loans; Ocwen turns slight profit in 2Q.
Is Onity Group eyeing a sale? Perhaps. And why not? Servicing values are approaching a 25-year high.
News Tailored to Your Needs
Get Focused Coverage
Inside Mortgage Finance's newsletters break the mortgage market down so you get the news and data you need most, whether it's total industry coverage or just the news related to securitization, regulation, profits or other specific topics.
RSS