Goldman Sachs launched two prime non-agency MBS and a HELOC securitization Thursday.

Due to accounting rules, earnings from the loans locked during the third quarter of 2025 were recognized in the third quarter rather than the fourth quarter.

Home prices declined by 0.2% on an annual basis in February, the first annual decline since 2012, according to First American Data & Analytics.

Among the 50 largest jumbo lenders, 48 increased their non-agency jumbo originations during the fourth quarter of 2025.

Some $295.0 billion of non-agency jumbos were originated in 2025, a nearly 40% increase on an annual basis.

Velocity Financial's income increased by 37.1% in the fourth quarter, while loan production declined by 14.1% from the third quarter.

Only two securitizations of home equity loans have hit the market thus far in March.

UWM is projecting revenue of between $800 million and $900 million for the first quarter of 2025, rather than the forecast of between $650 million and $850 million in revenue offered less than two weeks earlier.

Typically, the loans in jumbo MBS from Redwood are fixed-rate mortgages.

Dallin Merrill, head of policy at the Structured Finance Association, said some larger investors can increase their investments in 144A transactions, but smaller investors still struggle.