Morningstar DBRS created rating criteria for securitizations of home equity investments in mid-2023. Since then, issuance has blossomed, and the sky’s the limit, according to industry participants.

Delinquencies on non-QM loans are increasing despite servicers’ best efforts to ensure borrowers don’t go into foreclosure.

A slate of new non-agency MBS was announced over the past two weeks, including two of the largest non-QM deals of the year.

Strong returns post-2008 have led investors to increasingly consider non-qualified mortgage loans for their portfolios.

Investor demand for non-QMs is outpacing originator production, according to industry experts who spoke last week at the California MBA western secondary market conference.

AOMR recently issued $50 million of senior unsecured notes to help replenish its stock of non-QM loans for securitization.

The real estate mortgage trust is ramping up its acquisitions of residential transition loans in hopes of building a steady pipeline of rated RTL MBS deals in the coming quarters.

The first non-QM MBS issued by Ellington Financial in more than 14 months helped boost earnings in the second quarter.

The real estate investment trust increased its profits in the second quarter with help from new non-agency securitizations.

The sale of agency-eligible loans into non-agency MBS helped AG Mortgage stay in the black heading into the third quarter.