JPMorgan Chase leads the market in non-agency MBS issuance, offering all types of deals. Jamie Dimon adds that long-sought reforms could help boost volume.

Newrez once again overtook Select Portfolio Servicing during the second quarter of 2025 in terms of new servicing tied to non-agency MBS.

The retention rate dropped to 23% in the second quarter of 2025, with many servicers losing out on cash-out refinances.

“We’ve been investing in Arc, both in people and process, and we’re seeing the results,” said AGMIT's CEO.

Issuance of prime non-agency mortgage-backed securities reached $11.0 billion during the second quarter of 2025, a 6.5% increase from the first quarter. Some $7.95 billion were jumbo mortgages. (Includes three data tables.)

Redwood Trust is putting more of an emphasis on acquiring and originating non-agency mortgages.

Deephaven Mortgage is helping to tackle the housing shortage through education and building investor awareness for non-agency products such as residential transition loans.

AG Mortgage Investment Trust and Chimera Investment are acquiring lenders that originate non-qualified mortgages.

Newrez and a handful of other servicers are gaining ground on Select Portfolio Servicing for non-agency MBS servicing duties. (Includes data table.)

Newrez, the mortgage-banking division of Rithm Capital, increased its non-agency production by 42% to $1.1 billion in the second quarter.