Mortgages in the new non-QM MBS from Change have seasoned for an average of just one month.

While curtailing lending can help banks conserve capital, Moody’s Investors Service warned that the strategy could backfire.

Among the top 10 contributors to such securities, just one was a federally insured depository: PrimeLending.

United Wholesale Mortgage accounted for a large portion of the prime non-agency MBS issued in the second quarter. Overall, issuance remained subdued. (Includes three data charts.)

MFA Financial reported a loss in the second quarter of 2023 even though the REIT saw strong growth in business-purpose lending.

On completion of the merger, AGMIT and WAMC will have a combined investment portfolio of $5.7 billion, largely made up of non-agency mortgages.

The company, however, remained the top servicer for loans in non-agency mortgage-backed securities issued in the second quarter of 2023. (Includes data chart.)

Velocity Financial increased loan production in the second quarter as demand for business-purpose loans spiked.

Following a brief pause on acquiring new loans, the REIT affiliated with Angel Oak Companies plans to increase its securitization output.

The glossary is aimed at standardizing the terms and definitions used in the private lending ecosystem.