Angel Oak Mortgage, which primarily invests in non-QMs originated by affiliates of Angel Oak Companies, plans to become a public company.

Business-purpose lender Velocity Financial increased loan production in the first quarter of 2021 but income declined. The firm, which sold fewer loans in the first quarter, issued an MBS in May.

A flurry of non-agency MBS hit the market; the number of non-agency mortgages in forbearance increases; SFA raises concerns about CFPB’s proposal to establish a partial foreclosure moratorium; SFA to set up data tape task force; Sachem Capital generates $2.2 million of net income in 1Q21; new industry hires.

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.

The real estate investment trust also plans to acquire business-purpose loan originator Lima One.

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

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.

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.