Angel Oak Mortgage suffered widening losses in the second quarter amid weak demand in the secondary market for non-QMs. Still, officials at the REIT suggest that things are looking up.

Among the top 30 jumbo servicers, portfolios increased during the second quarter. Servicing declined at top-ranked Wells and increased at nearly all others in the top 10. (Includes data chart.)

Altisource Asset Management is acquiring bridge loans and plans to add non-agency debt service coverage ratio mortgages to its mix as it transitions from asset management to an originator of non-agency loans.

For the first time since May, a non-agency MBS with GSE-eligible mortgages for investment properties hit the market. And Change Lending switched products with its latest offering, focusing on mortgages with income verification. Overall, issuance remains slow.

Angel Oak settles with SEC on misreporting of delinquencies on fix-and-flip securitization; Sachem increases profits and originations in second quarter; LendSure launches five- to eight-unit DSCR product; rating services add firms to lists of acceptable due diligence providers.

Angel Oak Capital Advisors and a portfolio manager with the company settled with the SEC, which alleged improper reporting of delinquencies on a fix-and-flip securitization issued by Angel Oak in 2018.

An appeals court overturned a ruling that ordered UBS to pay more than $2.5 million to a former commercial MBS research analyst. The verdict conflicts with other circuit court decisions and could end up at the Supreme Court.

Change, because it's a CDFI, is exempt from the Consumer Financial Protection Bureau’s ability-to-repay requirements.

The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)

It's the first non-agency MBS with GSE-eligible mortgages for investment properties since May.