Both the prime jumbo non-agency MBS market and the expanded-credit sector posted sequential increases in issuance in the first quarter. (Includes data tables.)
A variety of non-QM mortgage-backed securities hit the market in the first two weeks of April, including a $404.3 million jumbo deal from Redwood Trust.
Ocwen to rebrand as Onity; Planet Home Lending adopts new FICO Score 10 T; insurance coverage a growing concern for real estate investors; NQM Funding loosens guidelines; Arch Mortgage Funding expands non-QM acquisitions.
Redwood Trust touted a new partnership with the Canada Pension Plan Investment Board as one of the first steps to increasing its activity in joint ventures.
A total of 11 new MBS hit the market in the past two weeks. Chase accounted for four of the deals, with two jumbo offerings, an investment property loan securitization in partnership with Visio-Beach Point Mortgage Trust and a securitization of closed-end second liens.
Increased jumbo production from UWM helped boost broker originations, while Wells Fargo’s exit from correspondent lending hurt that channel’s market share as other lenders didn’t pick up the slack. (Includes data table.)