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.

Issuers of expanded-credit MBS stocked deals with $14.10 billion of volume in the first quarter of 2022, a record for the sector. A rise in interest rates helped to increase securitization activity. (Includes three data charts.)

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.

While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)

Rising interest rates are leading to diminished demand for non-QM whole loans saddled with lower rates. Longer term, industry participants remain optimistic.

Issuance of non-agency MBS ground to a halt near the end of March but gained some momentum this week, led by prime deals.

Angel Oak Mortgage Solutions had sued four former loan originators and LendSure Mortgage under the Georgia Trade Secret Act.

Redwood unveils bank-statement loans; Axos offering jumbos with deferred interest; Arc Home expands non-QM offerings; Homepoint starts construction financing; The Change Company raises equity; Vontive offering IPL platform.