Non-agency MBS issuance totaled $16.90 billion in the first quarter, up 66.9% from the fourth quarter.

The investor share of home purchases hit an all-time high in December.

The volume of conforming jumbos included in Fannie Mae and Freddie Mac MBS increased by 8.0% to $6.05 billion in the first quarter.

Both the prime jumbo non-agency MBS market and the expanded-credit sector posted sequential increases in issuance in the first quarter. (Includes data tables.)

Credit standards for jumbo mortgages loosened in March. The changes came as home prices continue to increase.

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

Noncore products going into GSE securitizations saw less drop off than core products in the first quarter. (Includes data table.)

Rithm Capital closed a $500.0 million MBS backed by rated residential transition loans through its Genesis Capital shelf. The deal is the second RTL securitization to receive a rating from Morningstar DBRS.

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.

Higher interest rates and tighter lending standards led to a decline in income at the business-purpose lender.