Issuance of expanded-credit MBS increased by nearly 40% on a sequential basis in the first quarter while prime non-agency MBS issuance was down 16%. Issuers faced higher interest rates and diminished demand from investors. (Includes data chart.)
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The conduit started acquiring mortgages in mid-2021, with a focus on a limited number of lenders and relatively conservative credit standards.
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Originations of adjustable-rate mortgages declined by 4.8% from the third to the fourth quarter and by 13.7% for the full year 2021. Bank of America was the top ARM producer. The loans largely remain in portfolio. (Includes data chart.)
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After more than a year of working to shift its focus, Altisource Asset Management is setting up an alternative lending group to originate and acquire non-QMs and other products.
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Reigo Investments raised $13 million in Series A funding while New York Mortgage Trust acquired minority stake in AlphaFlow for an undisclosed amount.
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For a flat fee of $1,000 per month, prospective homeowners can enter into equity-sharing agreements with Haus. The company also launched a blockchain-based coin offering for accredited investors.
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