Fed reduces redemption cap for Treasury securities, allows agency MBS runoff to proceed; Annaly to issue securitization with HELOCs; non-agency MBS term financing transaction from PIMCO.

The investment in the Figure Connect loan marketplace will be used for the purchase of non-agency assets.

Issuance of both closed-end second liens and home equity lines of credit declined in the fourth quarter. For the full year, securitization of home equity loans dwarfed 2023. (Includes two data tables.)

KBRA forecasts that non-agency securitizations of HELOCs and CES loans will increase next year.

JPMorgan Chase started marketing a variety of non-agency MBS over the past two weeks, including its first deal stocked with non-QMs for primary residences.

Rising home equity and strong investor demand should help lenders boost their HELOC, CES and HEI lending in 2025.

While delinquencies are rising across most securitized asset classes, that’s not the case for home equity loans.

There’s plenty of home equity available to homeowners but interest rates are constraining originations of home equity loans. Banks remained the top three originators of home equity loans in the third quarter. (Includes three data tables.)

Growth in securitizations of home equity loans slowed in the third quarter from an exponential pace earlier in the year. Still, issuance was up, with Rocket leading the way. (Includes two data tables.)

Splitero expands to Arizona; A&D Mortgage launches free CRM; Achieve updates terms on HELOC product.