The mortgage M&A market has been dormant during the pandemic, but all that could soon change. Guaranteed Rate, for one, is looking to buy.

Production of non-QMs is nowhere near the levels seen earlier this year. The situation won’t change until demand rises in the secondary market.

Pandemic-related market volatility in March dampened non-agency jumbo lending more than other sectors in the mortgage business. Conforming-jumbo production also fell sharply in the first quarter but began regaining momentum in April. (Includes three data charts.)

Two top non-QM lenders have resumed activity but with fewer products and tighter underwriting. The secondary market is also reopening.

Impac Mortgage Holdings is about to unload what’s left of its MSR assets. Meaning?

In a sign of hope for the non-QM market, Sprout Mortgage resumed offering expanded-credit products last week.

Warehouse credit flows downhill: from the financier to the nonbank lender to the consumer. But with the pandemic stoking new economic fears, some providers are tightening their standards, like market leaders JPM and FH.

According to independent mortgage bankers, aggregators are adding credit overlays and refusing to buy loans in response to post-closing forbearance risk.

Wells Fargo has temporarily halted jumbo production through correspondent sellers while Chase, the other major player, is still active.

Amid the chaos in the financial market, originations of jumbo mortgages at big banks continue while non-QM lenders are laying off staff.