To this point, many of the jumbos Citi’s correspondent unit originates have been held for investment by Citi rather than delivered into the secondary market.

Noncore products are loans in which the non-agency market competes with the GSEs.

Chimera will pay $30 million upfront for Palisades Group and an earnout of up to $20 million.

Some $93.98 billion of non-agency MBS was issued year-to-date through September, putting the market on track for its best year since 2021.

Ginnie Mae Acting President Sam Valverde said loan-level securitization could help liquidity.

Applications for refis declined by 26% last week.

Ginnie issuers securitized $15.61 billion of refis through the Department of Veterans Affairs home loan program in the third quarter, a 68.5% increase from the prior period.

Maxex said the new guidelines should reduce the number of sales stymied by loan conditions and establish faster turn times for sales.

Non-agency MBS issuance backed by new originations totaled $20.15 billion in the third quarter, up 17.7% from the previous quarter.

An affiliate of Radian Group is marketing its second jumbo MBS.