The real estate investment trust reported a jump in net income for the first quarter, helped by a rise in lending partnerships with banks.

New York Mortgage Trust acquired $302.0 million of business-purpose loans in the first quarter, a 30% increase from the prior period.

The company continues to offload older non-qualified mortgages, helping to increase the weighted-average coupon on its loan portfolio.

The real estate investment trust originates non-qualified mortgage, home equity and agency loans through its NewRez unit, and funds residential transition loans through its Genesis Capital affiliate.

Carrington hires Winokur; Newfi expands EquityChoice product to new states; Loanstream offers special pricing for non-QMs.

The real estate investment trust’s non-agency conduit had a record quarter for loan acquisitions in 2023.

A recent appeals court decision against an out-of-state lender may prevent future loan modifications in California for loans with interest rates above 10%.

New jumbo, expanded-credit and home equity loan securitizations were announced over the last two weeks. The largest offerings are two jumbo MBS from JPMorgan Chase.

Verus Mortgage Capital has grown its non-agency MBS issuance as more investors show interest in the expanded-credit mortgage market.

William Erbey was named new CEO of AAM late last year and is guiding the company away from non-agency conduit activities to focus on EV technologies.