Based on activity over the past year, mortgage IPOs can sometimes underwhelm. Angel Oak’s was no exception but investors in the common shares are betting on non-QM lending taking off in the years ahead.

When Congress passed the Dodd-Frank Act in 2010, the SEC had nine months to issue a rule on conflicts of interest in the securitization market. The proposed rule on the issue has been pending since 2011.

Aircraft market values have not recovered post-pandemic, according to Fitch Ratings. Also, improvements will drag on due to supply and demand imbalances. The wild card? Next generation replacement technology, which relegates older airline models to the hangar.

Freddie’s multifamily unit issues a social bond backed by hundreds of single-family loans that fund the development of community-based group homes.

REIT industry holdings of agency MBS have climbed 8% higher than they were when COVID forced many firms to shrink, but investment in non-agency MBS remains depressed. (Includes data chart.)

In an interview with IM&A, former Treasury official Craig Phillips says capitalize the GSEs and let them go.

After months of sporadic issuance of MBS with newer non-QMs, five deals are in the market with fresh production. PIMCO is also selling off some older loans originated by Citadel Servicing.

Lenders with correspondent networks that buy already-funded mortgages (agency or otherwise) are pondering their sale options.

Stakeholders believe an alignment will ensure the most competitive mortgage terms are accessible to the broadest segment of QM-eligible borrowers while continuing to promote safe and sound lending practices.

Prepayment speeds are dropping on agency MBS but there could be choppy waters ahead on VA IRRRLs. For now, VA is staying quiet.