Issuance of expanded-credit MBS increased by nearly 80% on an annual basis in 2025 to $75.91 billion. Prime non-agency MBS issuance was up nearly 40% to $45.19 billion. (Includes data table.)

Non-agency lenders are expecting an increase in originations following the Trump administration’s announcement that the GSEs will add $200 billion to their MBS holdings.

After significant increases in securitization of residential transition loans in recent years, volume could decline this year.

Deliveries of conforming jumbos to the GSEs increased during the fourth quarter of 2025, though volume was down for the full year. (Includes data table.)

Newrez will recognize cryptocurrency assets when underwriting certain expanded-credit mortgages.

After record-breaking non-QM growth in 2025, Logan Finance began 2026 by creating a new managing director of correspondent lending role.

An unidentified insurance company recently started buying jumbo mortgages through the Maxex marketplace.

Guild Mortgage turns to LoanBeam to automate income analysis for non-QMs; Roc360 secures a $150 million investment from Temasek; Truss Financial Group launches non-agency products; American Pride Bank expanded its one-time-close construction loan program.

Holdings of first-lien residential mortgages at banks and thrifts slightly increased by 0.4% during the third quarter of 2025. But two of the four largest players in the market reduced their holdings.

Brokers are feeling optimistic about 2026, due in part to the expansion of non-qualified mortgage offerings.