In M&A news, Ellington Financial has agreed to buy Great Ajax in all-stock deal.

A-paper nonbanks searching for an origination life raft have discovered second liens. And now some top-ranked non-QM shops are ready to enter the arena, like Angel Oak.

Comerica’s exit from the warehouse market is still ringing in the ears of nonbanks. Enter the MBA, whose CEO seems a bit concerned but views the situation as “market forces at work.”

Although MSR sales are expected to slow with the arrival of summer, a few large bulk deals are in the works.

New American funded $2.0 billion of home mortgages in 1Q23, most of it through the retail channel.

Issuance of securitizations with second liens in 2023 has already surpassed the volume seen in all of 2022.

Another dealmaker said he’s working on a “large” deal with a coupon north of 5.00% but the details have yet to be worked out.

The top earner among the 10 public origination/servicing shops was Frank Martell, CEO of loanDepot...

The Prestwick/MCT package has a weighted average coupon of 3.27% and a delinquency ratio of 2.35%.

It’s starting to look like a boom of sorts in the securitization of second mortgages, especially with JPMorgan taking a keen interest.