Near the end of April, Chase and Redwood were marketing large jumbo MBS. Also, Citi returned to the sector for the first time since 2014.

Redwood Trust nearly doubled its net income in the first quarter, helped by the quick aggregation and sale of jumbo mortgages.

Goldman Sachs Mortgage Company has acquired more than $800 million of non-QMs this year and is set to issue a $291 million MBS.

Guaranteed Rate jumped to the top spot in the first quarter of 2021 among lenders contributing to prime non-agency MBS. MAXEX Clearing also sharply increased its contributions. (Includes two data charts.)

Prime non-agency MBS issuance continued to flow in April, helped by some new players. Expanded-credit activity has been limited recently, with a downturn in demand.

Redwood is trying to shift blockchain from a buzzword to practical technology for the non-agency MBS market. The firm made an investment in Liquid Mortgage, a blockchain-focused startup.

CSBS scaling back proposed standards for large nonbank servicers; SFA offers disclosures for non-agency MBS performance; non-agency forbearance increases; non-agency mortgage conduit launches; Redwood invests in finance company involved in SFR/bridge lending; PCMA expanding geographically.

Two non-agency MBS issued in March included a significant number of loans that didn’t receive full appraisals due to GSE policies. Rating services penalized the collateral by increasing assessed LTV ratios.

AIG is set to issue a jumbo MBS with new production and MFA Financial has a non-QM deal with loans that have seasoned for 16 months. A surge of issuance also looks likely later this month.

The investment-property lender boosted income in 4Q20 with a whole-loan sale. The firm is also planning to issue an MBS backed by recently funded loans in 2Q21.