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.)
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.
Velocity Financial was increasing originations and income, then the coronavirus hit, halting issuance of a planned MBS and prompting the need for additional capital.
Investments in non-agency assets were offloaded by Annaly and MFA. Some of the loans sold by MFA were likely meant for a non-QM MBS that didn’t close in March.
RSS