Velocity increased its income and originations from the third to the fourth quarter. The lender focuses on non-agency business-purpose loans.

The firm boosted its originations of non-QMs during the fourth quarter, though company officials suggested loan production in the first quarter could decline.

UWM offering bank statement mortgages; Spring EQ expands HEL guidelines; Toorak issues bridge loan securitization; non-QM impairments steady in January; new law to help with LIBOR-linked legacy deals.

Aggregation of non-agency mortgages isn’t generating the types of returns seen in 2021, but it’s still a good business, according to officials at MFA Financial.

AG Mortgage Investment Trust acquired $2.5 billion of non-agency loans last year, about half of them during the fourth quarter. The REIT is targeting returns of around 15% from non-agency MBS issuance.

Champions Funding enters the wholesale market for non-QMs; Angel Oak Mortgage Solutions expands the types of properties eligible for its investor cashflow program; LendingOne is offering a new single-family rental product; DBRS approves MetaSource as due diligence provider.

In a rising rate environment, issuers of jumbo MBS are seeing better pricing when the loans in their deals have short average seasoning times.

With traditional refi business slowing, New Residential plans to increase originations of various non-agency products.

Fitch’s review of 225 non-agency MBS prompts downgrade of a single tranche; Unison issues securitization with residential equity agreements; Carrington offers to complete certain non-QM origination tasks for brokers.

Loan-level details from CoreLogic provide a comparison of interest rates charged on jumbos and conventional mortgages. One finding: Spreads returned to pre-pandemic levels in the second half of 2021.