Select Portfolio Servicing added nearly twice as much servicing from just-issued non-agency MBS in the fourth quarter as it did in the third. Shellpoint remains the largest servicer of recently issued non-agency MBS. (Includes data chart.)

Non-agency mortgages, both jumbos and non-qualified mortgages, look promising to Western Alliance Bank as margins on conventional-conforming loans compress and production falls.

Chase issuing large jumbo MBS; more prime non-agency MBS; Velocity Financial originations hit a record in the fourth quarter; Boston Lending issues non-agency MBS with proprietary reverse mortgages; few FHA/VA mortgages make it into the non-agency market.

JPMorgan Chase was in a league of its own in the prime non-agency mortgage-backed securities market last year, with more than double the volume of its nearest competitor. (Includes three data charts.)

The bank’s fourth-quarter lending was flat, but it had record level originations for the year and expects volume to increase in 2022.

Strong home price appreciation helped push some GSE conforming jumbos into the non-agency market. Are loans for second homes next? (Includes data chart.)

Recent non-agency MBS include the year’s first expanded-credit MBS, plenty of prime deals and even a security with proprietary reverse mortgages.

UWM’s new jumbo promises its lowest interest rate yet, while Arc Home’s offer includes investment-property loans with balances of up to $2.0 million.

Mortgages in the transaction were acquired by Western Alliance Bank on a correspondent basis and will remain on its balance sheet. Risk-sharing deals in the non-agency market are rare and largely involve megabanks.

Prospects for non-agency MBS issuance in 2022 look mixed, with expanded-credit activity expected to increase while volume involving non-agency jumbos and GSE-eligible loans could decline.