The issuance of prime non-agency MBS doubled from the second to the third quarter. United Wholesale Mortgage contributed close to 25% of the securitized loans during the period. (Includes two data charts.)
First Republic Bank increased its originations by 15.8% in the third quarter and Flagstar Bank posted a 33.3% increase in jumbo lending compared to 2Q20.
New Residential ranked sixth among expanded-credit originators in 2019. The lender has been slower than other major players to restart non-QM lending due to a surge in agency refi business.
Redwood locked $2.1 billion of jumbos during the third quarter though it only acquired $176 million. The REIT is issuing MBS and selling loans to banks.
Some $1.64 billion of expanded-credit MBS and $1.06 billion of prime non-agency MBS hit the market in the past two weeks. The expanded-credit deals were stocked with older loans.