In general, private mortgages are extended by the owner of the property to a borrower through a private contract. Terms can vary greatly from deal to deal.

EverBank sold jumbos with an unpaid principal balance of $981.3 million, up 60.4 percent from the previous quarter.

As for TRID, Citadel obtained legal opinions on how to properly fix errors on loan applications and over time grew comfortable with the process.

The market did not react kindly to Five Oaks' earnings news. At one point in trading, its share price was down 13 percent on the day.

Even with the assessment of Clayton, the functions that a deal agent complete remain nebulous.

Last year, the two Angel Oak companies originated roughly $350 million in non-QM loans. This year they are hoping for production that could top $850 million.

Freddie Mac reduced its portfolio to $339.9 billion at the end of the quarter, a 2.0 percent drop. Like Fannie, the biggest decline in percentage terms was in non-agency MBS…

New applications are booming at PRMG...

Impac Mortgage, one of the better known non-QM lenders, funded $75.0 million in such loans during the first quarter of 2016, up from $50.8 million in the previous quarter.

Altisource Residential plans to recycle NPL money into investments of “pools of stabilized rental homes at attractive yields.”