An affiliate of Balbec Capital brought three deals in March alone with another set to begin marketing shortly. Goldman Sachs and Citi also issued non-agency MBS with reperforming loans.
On some recently issued expanded-credit MBS, servicing fees have been as low as 5 basis points. S&P and some other rating services review deals applying assumptions for higher servicing fees.
The MBS is stocked with investment-property mortgages eligible for sale to the GSEs. Bayview Asset Management last issued a non-agency MBS on its Oceanview shelf in October 2022.