Originations of non-agency jumbo mortgages declined in the first quarter of 2018 at a number of banks that provide early disclosures about their business. Officials cited seasonal factors for the lower volume and suggested that production will bounce back in the second quarter. First Republic Bank, the largest of the four banks in terms of jumbo production, had $2.33 billion in total originations in the first quarter. Jumbos tend to account for more than 90.0 percent of its total production ...
An affiliate of Western Asset Management Co. is set to issue one of the largest post-crisis non-agency mortgage-backed securities. The planned $1.25 billion issuance differs in a number of ways from deals with non-qualified mortgages from other issuers. Arroyo Mortgage Trust 2018-1 will be the first non-QM MBS from WAMC. The firm has been stockpiling non-QMs and other non-agency mortgages since the end of 2014. Loans in the pending MBS have seasoned for an average of ...
Chimera Investment issued a non-agency mortgage-backed security this week stocked with loans initially aggregated by Bank of America. The deal marked a return to the jumbo MBS market for the real estate investment trust, with officials noting strong demand from MBS investors. The $380.0 million CIM Trust 2018-J1 was largely backed by non-agency jumbo mortgages along with a 5.5 percent share of loans eligible for sale to the government-sponsored enterprises. BofA acquired ...
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