Non-Qualified Mortgage RMBS Structures Are Holding Fast During the Coronavirus Pandemic Despite High Delinquencies
The Coronavirus Disease (COVID-19) pandemic continues to put extraordinarily high pressure on the U.S. economy, although the latest top-line economic figures show conditions have improved from the near-term worst. As the pandemic continues, the knock-on financial effects of the coronavirus have appeared in U.S. residential mortgage-backed securities (RMBS) non-qualified mortgage (non-QM) sector monthly statements. For instance, July statements show delinquencies rising 15%-20% on average (even higher in some cases) in the June servicing period.
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