Angel Oak’s REIT sees income decline; Zillow and LendingHome issue securitizations; non-agency forbearance level; Pretium adds director from Goldman Sachs.

The standards generally mirror requirements the FHFA has established for servicing of mortgages backed by the GSEs. Implementation will be handled on a state-by-state basis.

Non-agency forbearance increases; Sachem inks $200 million repo line; review of risk-retention requirements extended; Angel Oak plans to expand its digital capabilities; Liquid Mortgage receives patent; Home Diversification Corp. for sale.

The impairment rate on securitized non-QMs fell to 7.9% at the end of May. Prepayments in the sector remain elevated as borrowers refinance.

Bank and thrift holdings of first liens declined for a second consecutive quarter, after years of increases. Among the largest banks, trends varied. (Includes data chart.)

Chase’s nonprime servicing portfolio increased tenfold to $44.40 billion at the end of March. The spike was due to a change in the way the bank reports numbers and not because of an influx of new servicing. (Includes data chart.)

Investors and borrowers alike are showing strong demand for fix-and-flip business purpose loans. Originators see volume rising and new players are entering the sector.

Non-QM impairment rate declines in April; non-agency forbearance update; Laurie Goodman appointed chair of MFA Financial’s board; White Mountain Capital boosting loan acquisitions; Synergy One offering HELOC with blockchain tech; capital raises and new financing for financing providers that allow homebuyers to make cash offers; Canopy approved by DBRS as due diligence provider.

The top three servicers of non-agency MBS issued during the first quarter of 2021 handled nearly 70% of the market. Shellpoint, the top-ranked firm, alone had a 41% share.

The real estate investment trust also plans to acquire business-purpose loan originator Lima One.