The structure helps issuers extend prefunding and investment periods beyond the 90-day limitation that applies to traditional real estate mortgage investment conduits.

The Securities and Exchange Commission will be seeking feedback next month on ways to boost issuance of publicly-registered MBS and ABS.

KBRA downgrades jumbo MBS issued by JPMorgan Chase in 2015; Community Bank sells MBS holdings at a loss; Morningstar details private-rating share.

Issuance of home equity loan securitizations declined in the second quarter of 2025, marking the second quarterly decline since mid-2024. Still, volume in the first half of 2025 was well above the level seen in the first half of 2024. (Includes three data tables.)

Acra has a new parent company in the form of BlackRock, but it’s hard to say much as changed at the non-QM originator.

Joe Gormley nominated for Ginnie president; UBS pays DOJ to end lingering non-agency MBS obligations from Credit Suisse; Chase marketing non-agency MBS with reperforming loans.

A court sided with junior bondholders, directing the trustee of certain legacy non-agency MBS to treat loss recoveries as subsequent recoveries.

Rithm is partnering with an unidentified large institutional investor to buy up to $1.5 billion of RTLs.

Expanded-credit MBS issuance was up 25.4% from the first to the second quarter, while prime MBS saw a solid 12.6% gain. JPMorgan Chase ranked as the top issuer and underwriter of non-agency MBS. (Includes three data sets.)

PennyMac Mortgage Investment Trust started issuing non-agency MBS in November as part of an effort to boost its investments in credit-sensitive assets. The REIT is now one of the most active players in the space.