Issuance of non-agency securities increased 81.3% in the second quarter of 2021. Volume was boosted by the spike in deliveries of GSE-eligible mortgages following regulatory changes in the agency market. (Includes data chart.)
Lock volume for planned acquisitions of jumbo mortgages declined in the second quarter at Redwood Trust. Still, officials are optimistic about growth in the non-agency market.
Nearly 70% of the non-QMs originated in 2020 included an IO term, according to a new INM analysis. The top two lenders were banks. (Includes data chart.)
Churchill Real Estate launched a table funding option, Toorak a securitization and Sachem raised $43 million via a stock sale. Meanwhile, the fix-and-flip market was on the decline in the first quarter.
Originations of adjustable-rate mortgages declined by 15% on a sequential basis in the first quarter of 2021. The ARM share of total originations also fell below 5%. (Includes data chart.)