Arch Mortgage Funding quietly acquired a small number of jumbo mortgages last year and expanded into acquisitions of non-QMs this month. Prior to the non-QM announcement, Arch Capital Group said little about the conduit.

Annaly Capital Management is working to increase its aggregation of non-agency mortgages. The company generated returns in the mid-teens from the activity in the first quarter.

Some issuers of non-agency MBS are stocking deals with mortgages that have seasoned for an average of about one month while others are still offloading mortgages that were originated prior to the runup in interest rates.

While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)

Saluda Grade stocks non-agency MBS with second liens from Spring EQ; Futures Financial launches business-purpose lending operations; Knock Lending offering jumbos; Angel Oak partners with blockchain platform.

Prime non-agency MBS issuance declined by nearly 20% on a sequential basis in the first quarter of 2022. However, loanDepot nearly doubled its activity in the market during that span. (Includes three data charts.)

Investment-property mortgage volume delivered to the GSEs was flat on a sequential basis in the first quarter, second-home volume declined by 8.0% and conforming jumbo business fell 38.5%. (Includes data chart.)

Issuance of non-agency MBS ground to a halt near the end of March but gained some momentum this week, led by prime deals.

The conduit started acquiring mortgages in mid-2021, with a focus on a limited number of lenders and relatively conservative credit standards.

Reigo Investments raised $13 million in Series A funding while New York Mortgage Trust acquired minority stake in AlphaFlow for an undisclosed amount.