loanDepot’s founder is busy buying luxury homes these days. In a few weeks we’ll know how well the company did in the fourth quarter. Meanwhile, non-agency MBS production remains brisk.

Three prime non-agency MBS hit the market Tuesday, making eight deals offered thus far in 2022.

Expanded-credit MBS issuance also increased in 2021, though it remained below the level seen in 2019.

With the CFPB watching closely, mortgage servicers are careful about how they approach foreclosures...

The top issuer for the year: Freedom Mortgage with a whopping $106.9 billion...

Issuance of Ginnie Mae mortgage-backed securities hit a record despite a slowdown in refi volume. The VA remained the top source of Ginnie activity for the second consecutive year. (Includes four data charts.)

Issuance of non-agency MBS last year topped the volume seen pre-pandemic. Activity was concentrated on prime loans, both non-agency jumbos and GSE-eligible mortgages. (Includes data chart.)

The upfront fees the GSEs charge for conforming jumbos and mortgages for second homes are set to increase. Some volume in those products will likely flow into the non-agency market.

Mortgages in the transaction were acquired by Western Alliance Bank on a correspondent basis and will remain on its balance sheet. Risk-sharing deals in the non-agency market are rare and largely involve megabanks.

Prospects for non-agency MBS issuance in 2022 look mixed, with expanded-credit activity expected to increase while volume involving non-agency jumbos and GSE-eligible loans could decline.