Non-agency forbearance increases; new securitization involving contracts tied to home price appreciation; new commercial mortgage product for brokers; Sachem’s income increases in 2Q.

Angelo Gordon Mortgage Investment Trust expects returns as high as 18% from securitizing non-QMs. The REIT and others are working to increase their acquisitions of the loans.

Acquisitions of non-agency mortgages increased and income declined during the second quarter at MFA Financial. The REIT is putting an emphasis on business purpose loans.

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.