Originations of non-agency jumbo mortgages increased by 6.3% from the second to the third quarter. Wells Fargo remained the top jumbo lender, while three firms in the top 10 posted declines. (Includes data chart.)
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MFA Financial posted a sharp increase in income, driven by its focus on buying non-agency mortgages and its acquisition of Lima One, a business-purpose lender.
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AG Mortgage Investment Trust more than doubled its net income in the third quarter as it shifted its focus to non-agency mortgages. AGMIT is sourcing many of its mortgage acquisitions from an affiliated lender.
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Servicing of jumbo mortgages increased at most of the 30 top firms in the sector during the third quarter. However, top-ranked Wells Fargo bucked the trend. (Includes data chart.)
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The public REIT portion of the Angel Oak Companies non-QM machine nearly tripled its income in the third quarter thanks to an increase in loan acquisitions and an MBS issuance.
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The lender is increasing its originations of non-QMs, which helped it generate a profit for the third quarter. Still, non-QM pricing declined early in the fourth quarter and there are additional costs tied to originating the loans.
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The largest non-agency MBS on offer in the past two weeks was a $762 million deal from United Wholesale Mortgage. Barclays Capital is also set to issue an expanded-credit MBS.
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Number of non-agency mortgages in forbearance increases; Securent offering loan-defect insurance; Filo Mortgage launches jumbo offering; Lakeview Loan Servicing partners with Silver Hill Funding.
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