This week, Annaly, the Change Company, Credit Suisse and Lone Star Funds all offered their second individual expanded-credit MBS of the year. Activity is also humming along in the prime non-agency market.

Fitch’s review of 225 non-agency MBS prompts downgrade of a single tranche; Unison issues securitization with residential equity agreements; Carrington offers to complete certain non-QM origination tasks for brokers.

Athas was founded in 2008 and originated $1.2 billion of loans last year.

Piper Sandler on loanDepot: "In our view, the stock is pricing-in a very long downturn in the mortgage market"...

Goldman Sachs continues to spread its wings in the non-agency MBS market. Last year, the firm tripled its non-agency issuance from 2020.

A $732.6 million ABS tied to music royalties closed this week. Other esoteric ABS in the market include healthcare-related financing, shipping container leases and property tax liens.

In January, the GSEs took in a significant volume of mortgages with balances greater than the baseline conforming loan limit for 2021. Note: A number of lenders had given themselves a head start on 2022 loan limits.

Black Knight: "The decline in serious delinquencies has been slower than might be expected given the large number of borrowers who have exited forbearance"...

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The number of loans 30-59 days delinquent in agency MBS increased during the second half of 2021. Late payments increased on FHA mortgages along with GSE loans. (Includes data chart.)