Angel Oak issued two non-QM MBS earlier this year that each topped $600 million. The new offering is sized at $353 million.

Industry analysts attribute the rise to a search for yield by investors along with increased acceptance of non-QMs in the investor community.

Keep in mind that, Ginnie MBS is back-stopped by the full faith and credit of the U.S. government. By comparison, Fannie Mae/Freddie Mac MBS carry an “implied” guarantee.

The new MBS differs in some ways from previous expanded-credit issuance from Annaly, including a reduced reliance on mortgages from Banc of California and an increase in investment-property loans.

Expanded-credit MBS issuance (the sum of nonprime and Alt A) hit $9.90 billion in the third quarter, a 60.8% jump from the previous period.

By now, everyone knows the Federal Housing Finance Agency plans to hire an investment banking firm to assist with recap and release plans, but what about the GSEs?

The FHA program saw the slowest gain in FTHB business, up just 13.6% from the previous period…

Overall, banks and thrifts sold $165.10 billion through their mortgage banking operations during the second quarter, up 34.5% sequentially…

 Fitch said the referenced mortgages will remain on balance sheet as unencumbered assets of JPMorgan Chase.

Although Brian Montgomery has been sworn in, he still faces a hearing in the Senate. Meanwhile, the Senate’s time might be taken up with a possible impeachment trial…