It’s the 14th expanded-credit MBS from Annaly this year, amounting to $7.57 billion in volume.

A&D Mortgage has partnered with Atlas Merchant Capital to fund more expanded-credit MBS transactions.

Khalil Kanaan, head of residential mortgage at LibreMax, an asset manager that has invested in home equity investments, said the products offer unlevered returns in the low double digits.

Loan applications are increasing as mortgage interest rates decline.

Growth in first-lien holdings occurred outside of the top three banks, which all shrank their portfolios in the second quarter.

The new HEI securitization has borrowers with slightly better average credit scores compared to an issuance in April.

Carlyle, an investment firm, agreed to purchase up to $300 million of Unison's new equity-sharing mortgage products.

The issuance will bring Rocket’s securitization volume of closed-end second liens to $3.30 billion this year.

After issuing a final rule on open banking, the CFPB plans a follow-on rule for open banking with mortgages.

Originations of both non-agency and conforming jumbos were up in the second quarter of this year.