The REIT sources the bulk of its acquisitions of non-QMs from lending units affiliated with Angel Oak Companies, leaving more time for asset management and securitization activities.
After a narrow loss in the first quarter, Impac boosted its non-QM originations, but the nonbank’s loss widened in the second quarter. Still, officials at the company are optimistic about the sector.
Non-agency forbearance increases; new securitization involving contracts tied to home price appreciation; new commercial mortgage product for brokers; Sachem’s income increases in 2Q.
Annaly’s new conduit is acquiring non-QMs along with GSE-eligible mortgages for investment properties. Previously, the REIT’s main avenue for acquisitions was through bulk purchases.
Angelo Gordon Mortgage Investment Trust expects returns as high as 18% from securitizing non-QMs. The REIT and others are working to increase their acquisitions of the loans.
Acquisitions of non-agency mortgages increased and income declined during the second quarter at MFA Financial. The REIT is putting an emphasis on business purpose loans.
The nonbank was able to increase its income during the second quarter with a focus on business-purpose loans. Resolutions of NPLs generated income and originations increased.
Angel Oak’s REIT sees income decline; Zillow and LendingHome issue securitizations; non-agency forbearance level; Pretium adds director from Goldman Sachs.
The real estate investment trust’s income from the aggregation of jumbo mortgages dropped while its business-purpose lending segment flourished. Margins on jumbos took a hit due to competition in the sector.
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