Issuance of expanded-credit mortgage-backed securities declined during the fourth quarter of 2025, marking the first quarterly decline in issuance for the sector in two years. (Includes three data tables.)

Annaly Capital Management achieved company records in lock volume and securitization issuance during the fourth quarter of 2025.

With the potential for interest rates to decline further, originators in the RTL and DSCR space have varying strategies for dealing with volume changes.

Industry participants recently warned against common types of fraud involving DSCR mortgages and residential transition loans.

At a recent conference, lenders discussed what makes a good RTL and DSCR borrower, as well as common mistakes borrowers make taking out investor loans.

Investors in the secondary market are showing strong demand for debt service coverage ratio mortgages, even with delinquencies ticking up.

Velocity this week announced a $500 million debt offering. The lender plans to use part of the proceeds to acquire a company.

Balance Homes resumes operations; non-QM impairments rise in December; Brokers First Funding appoints Steven Winokur as chief marketing officer; American Heritage Lending offering product based on income from cannabis.

Growing acceptance of DSCR loans is helping drive improved lending flexibility.

Players in the non-agency market are touting the benefits of thoughtfully using artificial intelligence for debt service coverage ratio loans and residential transition loans.