The average single-family home generated $4,427 in taxes in 2025, a 3% increase over the prior year.

“This combination of credit quality, yield and rate protection has drawn interest from asset managers, insurance companies and hedge funds,” said Adam Beeler, global head of strategic partnerships and new business development at Angel Oak Capital Advisors.

The average interest rate on a 30-year fixed-rate mortgage fell to 6.37% as of Thursday, down from 6.46% the week prior, according to Freddie Mac.

loanDepot has already been originating both HELOCs and closed-end second liens.

Pennymac typically issues its own non-agency MBS.

Redwood Trust and an affiliate of AmWest Funding are in the market with separate non-agency MBS.

Ellington Financial is set to issue a non-agency MBS with GSE-eligible mortgages originated by Pennymac.

Didi Parks, vice president of national accounts at Incenter Diligence Solutions, a third-party review firm, said it’s important that originators offering a new product ensure their staff is well trained, because if not all underwriting requirements are met, the originator could take pricing hits or might not be able to sell the loans at all.

The GSEs plan to announce a new adoption date for the Uniform Closing Dataset during the fourth quarter of 2026.

The retail channel’s share of nonconforming mortgage originations ticked down in 2025, to 68.2% from 68.8% in 2024.