Goldman is set to issue a prime non-agency MBS backed by new production while affiliates of Caliber and Verus brought deals collateralized by seasoned loans.
After sharply limiting its aggregation due to volatility from the coronavirus, Redwood has re-entered the jumbo MBS market. Meanwhile, issuers of expanded-credit deals continue to stock their MBS with older loans.
The firm launched in 2019 and has issued three unique securitizations this year, including closed-end second liens, home equity lines of credit and bridge loans.
Three deals hit the market late last week. Chase issued a jumbo MBS backed by fresh loans while two other issuers packaged investment-property mortgages.
After issuing $1.0 billion of expanded-credit MBS during the third quarter, Annaly is working to acquire more non-QMs. The REIT reported strong returns from the MBS.
MFA Financial took losses on non-QM sales earlier this year and obtained costly financing amid margin calls. Now the REIT is generating profits and paying off debt thanks to two MBS issuances in recent months.
Chimera is generating attractive returns by packaging jumbos, GSE-eligible investment-property mortgages and seasoned loans into non-agency MBS. The REIT continues to avoid non-QMs.
Redwood locked $2.1 billion of jumbos during the third quarter though it only acquired $176 million. The REIT is issuing MBS and selling loans to banks.
Some $1.64 billion of expanded-credit MBS and $1.06 billion of prime non-agency MBS hit the market in the past two weeks. The expanded-credit deals were stocked with older loans.
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