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.)

Six expanded-credit MBS hit the market in the past two weeks, including the largest deal since COVID upended the sector. Activity is much slower in the space for prime jumbos and GSE-eligible investment-property loans.

A look at the performance of investment-property loans reveals some differences between GSE-eligible loans and non-agency mortgages. Performance also differed from owner-occupied prime jumbos and non-QMs.

UWM offering bank statement mortgages; Spring EQ expands HEL guidelines; Toorak issues bridge loan securitization; non-QM impairments steady in January; new law to help with LIBOR-linked legacy deals.

Goldman Sachs is set to issue its first expanded-credit MBS, with four other firms also offering deals in the past two weeks. In the prime non-agency space, JPMorgan Chase has another large offering.

Originations of non-agency jumbo mortgages were essentially flat in the fourth quarter of 2021 compared with the previous quarter. Still, for the full year, the market was hot and gained market share. (Includes data chart.)

In a rising rate environment, issuers of jumbo MBS are seeing better pricing when the loans in their deals have short average seasoning times.