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.

Delinquencies and loan modifications on non-agency mortgages increased in May, but at a slower rate than the sharp increase in April. Delinquencies are much higher on non-QMs than jumbos.

Bank and thrift holdings of first liens increased just 0.3% in the first quarter. While BofA’s portfolio increased, Wells and Chase cut theirs. (Includes data chart.)

A recent cash infusion will help MFA Financial revive its first ever non-QM MBS. The deal had been put on hold because of the pandemic.

The impairment rate on non-QM MBS increased by more than five times in April as borrowers felt the side effects of the coronavirus. The worst performing non-QM loans were those to self-employed borrowers.

Touting its experience servicing distressed subprime mortgages, Ocwen is looking to acquire delinquent loans. (Includes data chart.)

CFPB issues proposed rule for LIBOR transition; non-agency forbearance rate declines; Chimera turns to alternative financing; Invictus launches commercial lender; SFA shifts date for annual conference.

For the first time in years, the amount of jumbo mortgage servicing outstanding declined on a quarterly basis. Looking forward, forbearance requests are a key issue. (Includes data chart.)

Forbearance on non-agency mortgages is on the rise, presenting liquidity risk for servicers. Federal agencies have yet to offer a helping hand.

Annaly’s investments in non-agency assets fell by 33% between the end of 2019 and March 31. The REIT sold some of its holdings and issued two non-agency MBS during the first quarter.