Pennymac originated $4.16 billion in volume to prime non-agency MBS issued in the second quarter, according to a new ranking and analysis by Inside Nonconforming Markets.

Issuance of prime non-agency mortgage-backed securities cooled off somewhat in the second quarter of 2026, but remained elevated on an annual basis. (Includes three data tables.)

Annaly Capital Management nearly tripled its profit from the first to the second quarter as it leaned into its residential credit business.

Redwood Trust posted another quarter of losses in the second quarter tied to its efforts to wind down legacy assets, including multifamily bridge loans investments.

Pennymac Mortgage Investment Trust has seen success in its private-label securitization program causing it to stop acquiring agency-eligible, conventional-conforming loans through correspondent production.

Morningstar DBRS analyzed how securitizations of home equity investments fared against home price appreciation.

More lenders are entering the non-qualified mortgage space or expanding their non-agency product offerings.

Adamas Trust acquired $632 million of business-purpose loans during the second quarter of 2026 and completed two BPL-rental securitizations.

Gershman Mortgage launches HELOC product; HighTechLending enhanced HELOC offering; Truss Financial Group launches a debt service coverage ratio HELOC; Movement Mortgage launches ITIN product.

In the second quarter of 2026, Adamas Trust acquired $632 million of business-purpose loans, record volume for the real estate investment trust.