Issuance of prime non-agency MBS in the first quarter of 2024 was driven by jumbo mortgages, though volume involving GSE-eligible mortgages also increased.

Non-agency MBS issuance more than doubled on a sequential basis in the first quarter of 2024, with jumbo mortgages making up the majority of loans in the deals. (Includes three data tables.)

The securitization market is favorable for non-agency mortgages, aggregators and originators noted during first-quarter earnings calls.

Originations of higher-priced loans, a proxy for subprime mortgages, declined in 2023 but held up better than total originations. (Includes two data tables.)

The real estate investment trust reported a jump in net income for the first quarter, helped by a rise in lending partnerships with banks.

Shellpoint Mortgage Servicing was the top servicer of mortgages backing non-agency MBS issued during the first quarter. Select Portfolio Servicing followed closely behind. (Includes data table.)

New York Mortgage Trust acquired $302.0 million of business-purpose loans in the first quarter, a 30% increase from the prior period.

The company continues to offload older non-qualified mortgages, helping to increase the weighted-average coupon on its loan portfolio.

The real estate investment trust originates non-qualified mortgage, home equity and agency loans through its NewRez unit, and funds residential transition loans through its Genesis Capital affiliate.

Carrington hires Winokur; Newfi expands EquityChoice product to new states; Loanstream offers special pricing for non-QMs.