Issuance of non-agency mortgage-backed securities increased 34.2% from the fourth quarter of 2025 to the first quarter of 2026, according to a new ranking and analysis by Inside Nonconforming Markets.

Issuance of non-agency MBS backed by newly originated mortgages increased by 34.2% on a quarterly basis in the first quarter of 2026. (Includes data tables.)

The impairment rate on non-qualified mortgages increased by 51 basis points in February, driven by a mix of higher new impairments and further deterioration in cure and made-payment rates, according to dv01.

Weakness in the housing market last year did not materially impact non-qualified mortgage delinquency rates, according to research by Goldman Sachs.

Conforming jumbo mortgage volume delivered into Fannie Mae and Freddie Mac MBS fell on a quarterly basis in the first quarter, but activity was up for investment-property and second-home mortgages. (Includes data table.)

With growing demand for non-qualified mortgage production, Eris Innovations outlined four methods to hedge non-QMs.

The non-agency lender incurred an $8.4 million loss for the fourth quarter. Still, officials pointed to better days ahead.

Onslow Bay Financial turns to MeridianLink Mortgage for loan origination system; Finance of America launches second-lien reverse-mortgage line of credit.

Annaly Capital Management is set to issue a $349.3 million non-agency MBS with loans originated by AmeriHome Mortgage.

Brian Vieaux, president of MISMO, said the dataset aims to make it easier for aspiring homeowners to succeed by creating a standard shared language that can be used between counselors, lenders and the broader mortgage ecosystem.