The exchange that connects lenders with non-agency investors will facilitate sales of debt service coverage ratio loans for investment properties.

LendSure launches prime jumbo offering; online marketplace Morty offers jumbos; Point completes Series C funding round; Sachem Capital’s earnings and originations flat in first quarter.

Loans that received an Automated Collateral Evaluation waiver had 9% fewer defaults than similar loans that didn’t, according to Freddie economists.

The rejection rate on applications for non-agency jumbo mortgages declined for both purchase mortgages and refis in 2021. One top lender had a denial rate of less than 1.0%. (Includes data chart.)

Arch Mortgage Funding quietly acquired a small number of jumbo mortgages last year and expanded into acquisitions of non-QMs this month. Prior to the non-QM announcement, Arch Capital Group said little about the conduit.

Annaly Capital Management is working to increase its aggregation of non-agency mortgages. The company generated returns in the mid-teens from the activity in the first quarter.

Some issuers of non-agency MBS are stocking deals with mortgages that have seasoned for an average of about one month while others are still offloading mortgages that were originated prior to the runup in interest rates.

Saluda Grade stocks non-agency MBS with second liens from Spring EQ; Futures Financial launches business-purpose lending operations; Knock Lending offering jumbos; Angel Oak partners with blockchain platform.

Originations of jumbo mortgages increased at First Republic Bank despite rising interest rates. Officials at the bank said a number of factors led to the nearly 20% increase in originations during the January-March cycle.

Investment-property mortgage volume delivered to the GSEs was flat on a sequential basis in the first quarter, second-home volume declined by 8.0% and conforming jumbo business fell 38.5%. (Includes data chart.)