PennyMac has marketed an average of one non-agency MBS with GSE-eligible mortgages for investment properties per month since November.

Nonprime servicing volume among companies in the analysis has increased every quarter since 2020.

FHA activity fell 16.8% while VA production was down 15.1% from January.

Demand for both purchase mortgages and refinances increased last week.

The share of specified pools of GSE MBS increased from 40.7% in 2023 to 44.4% last year.

“We continue to see nearly zero [non-QM] loans hit the liquidation stage,” dv01 said.

The February lull is a common seasonal occurrence.

“I think that the bid for the whole loan itself and the ability to have a lot more control and cherry pick what you want on your balance sheet has been very strong,” an executive at a major life insurance company said.

A portfolio manager said if agency MBS investors aren’t kept in mind during the GSE reform process, the changes could hit investor demand for GSE MBS, having a negative impact on homebuyers.

Anthony Hsieh, chairman, founder and controlling shareholder of loanDepot, is returning to senior leadership as executive chairman of mortgage originations at the nonbank.