The three servicers added significant volume to their portfolios thanks to the surge in non-agency MBS issuance during the second quarter of 2021. The performance of securitized loans also continues to improve. (Includes data chart.)

The nonbank was able to increase its income during the second quarter with a focus on business-purpose loans. Resolutions of NPLs generated income and originations increased.

The offerings in the non-agency MBS market range from deals backed by prime jumbo mortgages to investment-property loans that were eligible for sale to the GSEs to non-QMs.

Angel Oak’s REIT sees income decline; Zillow and LendingHome issue securitizations; non-agency forbearance level; Pretium adds director from Goldman Sachs.

The real estate investment trust’s income from the aggregation of jumbo mortgages dropped while its business-purpose lending segment flourished. Margins on jumbos took a hit due to competition in the sector.

Chase was the most active player in the non-agency MBS market in late July, with deals involving jumbos, investment-property mortgages and a risk-sharing transaction.

Toorak Capital Partners expanded its securitization activities into 30-year mortgages for investment properties. Bayview Asset Management and Goldman Sachs have jumbo MBS in the market, and a number of other issuers are planning deals.

The impairment rate on securitized non-QMs fell to 7.9% at the end of May. Prepayments in the sector remain elevated as borrowers refinance.

Non-agency forbearance ticks up; Saluda Grade raises capital; Sachem launches SPAC.

Trump-era GSE policies that helped boost activity in the non-agency market could be reversed as Biden appointees take charge at the FHFA.