Annaly Capital Management is working to increase its aggregation of non-agency mortgages. The company generated returns in the mid-teens from the activity in the first quarter.

Some issuers of non-agency MBS are stocking deals with mortgages that have seasoned for an average of about one month while others are still offloading mortgages that were originated prior to the runup in interest rates.

While non-agency MBS issuance was essentially level in the first quarter of 2022, there was some movement among servicers in the sector. Servicing activity at Cenlar and UWM dropped, while Shellpoint and smaller servicers increased their market share. (Includes data chart.)

Saluda Grade stocks non-agency MBS with second liens from Spring EQ; Futures Financial launches business-purpose lending operations; Knock Lending offering jumbos; Angel Oak partners with blockchain platform.

Prime non-agency MBS issuance declined by nearly 20% on a sequential basis in the first quarter of 2022. However, loanDepot nearly doubled its activity in the market during that span. (Includes three data charts.)

Originations of jumbo mortgages increased at First Republic Bank despite rising interest rates. Officials at the bank said a number of factors led to the nearly 20% increase in originations during the January-March cycle.

Correspondent sales of jumbo mortgages to unaffiliated buyers more than doubled in 2021, with Guaranteed Rate leading the pack. (Includes two data charts.)

Issuance of non-agency MBS ground to a halt near the end of March but gained some momentum this week, led by prime deals.

Redwood unveils bank-statement loans; Axos offering jumbos with deferred interest; Arc Home expands non-QM offerings; Homepoint starts construction financing; The Change Company raises equity; Vontive offering IPL platform.

Originations of jumbo mortgages shifted somewhat toward the correspondent channel during the fourth quarter of 2021, helped by JPMorgan Chase and Wells Fargo. (Includes data chart.)