An affiliate of American Mortgage Investment Partners Management is set to issue its second non-agency MBS backed solely by loans originated by Visio Financial Services.
Issuance of prime non-agency MBS has slowed significantly. A pending deal from Wells Fargo is only the second issuance of 2Q19, though industry participants suggest that demand from investors is increasing.
Issuance of expanded-credit mortgage-backed securities hit $5.97 billion in the first quarter of 2019, a record for the sector. It also topped prime non-agency MBS volume for the third consecutive quarter.
The sharp downturn in purchase-money loans going into Fannie and Freddie MBS was accompanied by an even bigger drop in deliveries of loans with private mortgage insurance.
JPMorgan Chase is set to issue its first MBS stocked solely by non-qualified mortgages on primary residences. Many of the loans in the $440.54 million deal went to self-employed borrowers.
In a positive sign for the non-agency MBS market, JPMorgan Chase is set to issue a $440.54 million MBS stocked with non-qualified mortgages for primary residences. It will be the the first big bank to do so.
LendingHome recently issued a $219 million asset-backed security with fix-and-flip loans originated by the firm; Reliant Bancorp, Brentwood, TN, launched a correspondent purchase program for non-qualified mortgages in March; Angel Oak Mortgage Solutions expanded its office space in Dallas and Atlanta.
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