National Mortgage News: Non-Qualified Mortgages are Coming Back, but with Tighter Guidelines

Caroline Chen, Senior Vice President, offered National Mortgage News and Asset Securitization Report
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Original article by Brad Finkelstein


Caroline Chen, Senior Vice President, offered National Mortgage News and Asset Securitization Report her views on why investors should remain leery of non-QM RMBS even as originators are coming back into the marketplace. Caroline notes that the lack of uniformity around forbearance policies is concerning, and that delinquencies for these securities are at a 20% to 25%. With most issuances originating before the Covid-19 pandemic took hold, Caroline says some borrowers will take up loss mitigation strategies because not everyone can roll back to current pay status.


Read full article here (paywalled).

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