SFA Research Corner: Strength in Non-QM and SFR Supports Surge in Non-Agency RMBS
Provided by Structured Finance Association
Non-agency RMBS issuance is on track for a new post-2008 record. Year-to-date, new issue has reached $119 billion, surpassing 2020’s full-year volume and just 12% below 2019’s record year. Issuance for RMBS backed by non-QM and SFR loans are particularly robust and are expected to surpass previously set records. In this week’s research, we take a closer look at these two RMBS sub-sectors.