Goldman Sachs is set to issue its first expanded-credit MBS, with four other firms also offering deals in the past two weeks. In the prime non-agency space, JPMorgan Chase has another large offering.
Champions Funding enters the wholesale market for non-QMs; Angel Oak Mortgage Solutions expands the types of properties eligible for its investor cashflow program; LendingOne is offering a new single-family rental product; DBRS approves MetaSource as due diligence provider.
Nearly every company in a group of 30 prominent servicers of jumbo mortgages increased their respective portfolios during the fourth quarter. Jumbo servicing also increased on an annual basis. (Includes data chart.)
Expanded-credit mortgages and business-purpose lending are set to play a bigger role in Redwood’s operations. Third-party investments also generated strong returns for the REIT in the fourth quarter.
This week, Annaly, the Change Company, Credit Suisse and Lone Star Funds all offered their second individual expanded-credit MBS of the year. Activity is also humming along in the prime non-agency market.
Fitch’s review of 225 non-agency MBS prompts downgrade of a single tranche; Unison issues securitization with residential equity agreements; Carrington offers to complete certain non-QM origination tasks for brokers.
Angel Oak is sourcing loans from lenders beyond its affiliates, Invictus reached a diversification milestone and Angelo Gordon went the other way, sponsoring a deal with loans from just one lender.