Angel Oak Mortgage Solutions had sued four former loan originators and LendSure Mortgage under the Georgia Trade Secret Act.

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.

Issuance of expanded-credit MBS increased by nearly 40% on a sequential basis in the first quarter while prime non-agency MBS issuance was down 16%. Issuers faced higher interest rates and diminished demand from investors. (Includes data chart.)

The conduit started acquiring mortgages in mid-2021, with a focus on a limited number of lenders and relatively conservative credit standards.

United Wholesale Mortgage started offering bank statement mortgages and a non-agency investment property product in March.

After more than a year of working to shift its focus, Altisource Asset Management is setting up an alternative lending group to originate and acquire non-QMs and other products.

Figure to launch cryptocurrency-related mortgages; PCMA starts capital advisory unit; A&D Mortgage accepting cryptocurrency; Sachem’s fourth- quarter earnings; DBRS approves of Visionet Systems.

Higher interest rates took a bite out of Angel Oak Mortgage’s profits in the fourth quarter, but its non-QM originations continue to remain strong. The firm also plans to maintain regular issuance of MBS.

The firm boosted its originations of non-QMs during the fourth quarter, though company officials suggested loan production in the first quarter could decline.

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.