AG Mortgage Investment Trust acquired $2.5 billion of non-agency loans last year, about half of them during the fourth quarter. The REIT is targeting returns of around 15% from non-agency MBS issuance.

Goldman Sachs is set to issue its first expanded-credit MBS, with four other firms also offering deals in the past two weeks. In the prime non-agency space, JPMorgan Chase has another large offering.

In a rising rate environment, issuers of jumbo MBS are seeing better pricing when the loans in their deals have short average seasoning times.

Annaly Capital Management is increasing the amount of capital it dedicates to aggregating non-agency mortgages and issuing MBS.

Expanded-credit mortgages and business-purpose lending are set to play a bigger role in Redwood’s operations. Third-party investments also generated strong returns for the REIT in the fourth quarter.

This week, Annaly, the Change Company, Credit Suisse and Lone Star Funds all offered their second individual expanded-credit MBS of the year. Activity is also humming along in the prime non-agency market.

Angel Oak is sourcing loans from lenders beyond its affiliates, Invictus reached a diversification milestone and Angelo Gordon went the other way, sponsoring a deal with loans from just one lender.

Chase issuing large jumbo MBS; more prime non-agency MBS; Velocity Financial originations hit a record in the fourth quarter; Boston Lending issues non-agency MBS with proprietary reverse mortgages; few FHA/VA mortgages make it into the non-agency market.

The first non-agency MBS issued by a Community Development Financial Institution includes loans that didn’t require verification of borrower income or employment.

Recent non-agency MBS include the year’s first expanded-credit MBS, plenty of prime deals and even a security with proprietary reverse mortgages.