Loans originated by CrossCountry Mortgage accounted for $942.1 million of mortgages in expanded-credit MBS issued in the first quarter of 2025. Annaly Capital Management’s Onslow Bay unit remained the largest issuer of expanded-credit MBS. (Includes three data tables.)
Proponents of the non-agency market see GSE reform as an opportunity to take steps to increase the non-agency share of activity in the secondary market. The Trump administration’s plans for the secondary market remain unclear.
A new bill sets exemptions for secondary market participants after a state regulator established deeply unpopular licensing requirements at the beginning of the year.
Carrington is expanding its guidelines and offering competitive pricing for non-QMs in the correspondent channel, aiming to gain market share. The company also works to help correspondent sellers mitigate risks on non-QM sales.
Beeline Financial started operations in 2020 and has yet to turn a profit. The company is now publicly traded thanks to a transaction involving a distillery, with plans to boost non-QM lending by leaning on technology.
Moody’s affirms assessments on Redwood; Deephaven loosens DSCR underwriting; Dan Perl update; ARDRI acquires expanded-credit lender; new proprietary reverse mortgages from Mutual of Omaha Mortgage.