Issuance of MBS backed by expanded-credit mortgages increased by nearly 50% from the fourth quarter to the first quarter of 2024. Annaly more than tripled its volume.
A recent appeals court decision against an out-of-state lender may prevent future loan modifications in California for loans with interest rates above 10%.
New jumbo, expanded-credit and home equity loan securitizations were announced over the last two weeks. The largest offerings are two jumbo MBS from JPMorgan Chase.
Rithm Capital closed a $500.0 million MBS backed by rated residential transition loans through its Genesis Capital shelf. The deal is the second RTL securitization to receive a rating from Morningstar DBRS.
A variety of non-QM mortgage-backed securities hit the market in the first two weeks of April, including a $404.3 million jumbo deal from Redwood Trust.
Redwood Trust touted a new partnership with the Canada Pension Plan Investment Board as one of the first steps to increasing its activity in joint ventures.
A total of 11 new MBS hit the market in the past two weeks. Chase accounted for four of the deals, with two jumbo offerings, an investment property loan securitization in partnership with Visio-Beach Point Mortgage Trust and a securitization of closed-end second liens.