In a rising rate environment, issuers of jumbo MBS are seeing better pricing when the loans in their deals have short average seasoning times.

Nearly every company in a group of 30 prominent servicers of jumbo mortgages increased their respective portfolios during the fourth quarter. Jumbo servicing also increased on an annual basis. (Includes data chart.)

Annaly Capital Management is increasing the amount of capital it dedicates to aggregating non-agency mortgages and issuing MBS.

With traditional refi business slowing, New Residential plans to increase originations of various non-agency products.

This week, Annaly, the Change Company, Credit Suisse and Lone Star Funds all offered their second individual expanded-credit MBS of the year. Activity is also humming along in the prime non-agency market.

In January, the GSEs took in a significant volume of mortgages with balances greater than the baseline conforming loan limit for 2021. Note: A number of lenders had given themselves a head start on 2022 loan limits.

Loan-level details from CoreLogic provide a comparison of interest rates charged on jumbos and conventional mortgages. One finding: Spreads returned to pre-pandemic levels in the second half of 2021.

Non-agency mortgages, both jumbos and non-qualified mortgages, look promising to Western Alliance Bank as margins on conventional-conforming loans compress and production falls.

JPMorgan Chase was in a league of its own in the prime non-agency mortgage-backed securities market last year, with more than double the volume of its nearest competitor. (Includes three data charts.)

The bank’s fourth-quarter lending was flat, but it had record level originations for the year and expects volume to increase in 2022.