After issuing $1.0 billion of expanded-credit MBS during the third quarter, Annaly is working to acquire more non-QMs. The REIT reported strong returns from the MBS.

Impac resumed originations of non-QMs in October with a whimper rather than a bang. The lender is generating better returns from GSE mortgages.

The volume of business the GSEs conduct in various noncore categories increased in 3Q but the noncore share of Fannie/Freddie business declined as lenders focused on refinances. (Includes data chart.)

Loan limit projections for 2021; non-agency forbearance declines; Sterling takes losses on non-QM buybacks; Anworth's MBS plans whither; Griffin launches jumbo product; Citadel offering three-month bank statement loans; BBVA offering Prosper-powered HELOC.

First Republic Bank increased its originations by 15.8% in the third quarter and Flagstar Bank posted a 33.3% increase in jumbo lending compared to 2Q20.

New Residential ranked sixth among expanded-credit originators in 2019. The lender has been slower than other major players to restart non-QM lending due to a surge in agency refi business.

Western Alliance plans to offer warehouse lines of credit to lenders that work with Galton then retain some of the lenders’ originations.

Redwood locked $2.1 billion of jumbos during the third quarter though it only acquired $176 million. The REIT is issuing MBS and selling loans to banks.

Prepayment rates on prime non-agency MBS inched above 40% in September compared to roughly 25% at the beginning of the year.

For the first time since 2013, rates on jumbos have moved above those on GSE loans. The reason: the Federal Reserve’s massive purchase of agency MBS.