New benchmarks point to improved underwriting standards compared with collateral in non-agency MBS prior to the financial crisis of 2008.

Finance of America to issue MBS backed by jumbo reverse mortgages; Aslan teams with Calque; 5th Street Capital licensed in Wyoming.

After reporting losses in its agency portfolio in the fourth quarter, Annaly plans to boost its non-agency loan volume.

While Change Lending is no longer on the list, its parent company, The Change Company CDFI, remains...

Issuance doubled compared with the fourth quarter of 2022. However, issuance slowed considerably in March following the failures of two regional banks. (Includes data chart.)

The performance of expanded-credit MBS was attractive to investors until interest rates increased throughout 2022. Higher rates cut into excess interest and slowed build-up of credit enhancement levels on outstanding deals.

AB CarVal Investors and Ares Management are in the market with separate expanded-credit MBS, marking the first time either firm has offered that type of MBS.

CDFIs, for now, are exempt from the CFPB's ability-to-repay requirements.

Expanded-credit MBS issuance declined by nearly 50% in the fourth quarter compared with the previous quarter. Prime MBS issuance fared even worse, essentially freezing during the final months of the year. (Includes data chart.)

Non-agency MBS issuance perked up in early January as investor demand improved. Redwood Trust offered a jumbo MBS after a year-long lull in issuance and expanded-credit MBS issuers priced deals at tightening spreads.