The new licensing requirement represents a major shift for the MBS market, with participants scrambling to either comply or avoid loans in the state. A challenge to the requirements appears likely.
Although Acra Lending could have new owners soon, it continues to strike partnerships. The latest one involves selling non-QMs to an insurance company.
Issuance of prime non-agency MBS tripled from 2023 to 2024, boosting the market to its best year since 2021. Expanded-credit mortgage securitization accounted for 34% of non-agency issuance last year. (Includes three data tables.)