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Inside Nonconforming Markets

July 11, 2025

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Non-Agency MBS Issuance Up in Second Quarter

Issuance of non-agency mortgage-backed securities reached $29.56 billion in the second quarter, up 17.3% from the previous quarter. (Includes data tables.) Read More

Non-Agency Market Waiting on Crypto Move by GSEs

The GSEs look to follow in the footsteps of a handful of non-agency lenders by considering cryptocurrency holdings when underwriting mortgage borrowers. The impact on the mortgage market remains unclear. Read More

AGMIT Retaining Risk on Figure Securitization

Figure Lending issued a securitization of home equity lines of credit this week with AG Mortgage Investment Trust acting as the retaining sponsor, a once uncommon practice in the non-agency market that’s gaining traction. Read More

GSE Conforming Jumbo Business Bounces Back in 2Q

Securitization of conforming jumbo mortgages by the government-sponsored enterprises increased during the second quarter of 2025 after a slowdown in the previous quarter. (Includes data table.) Read More

Mixed Trends in Performance of Expanded-Credit MBS

Delinquencies and loan modifications on securitized non-QMs resumed increasing in May. Issuance from 2023 is performing worse than prior vintages while deals from 2024 have benefited from improved underwriting. Read More

Real Brokerage Integrates Flyhomes’ Buy-Before-You-Sell Products

The Real Brokerage made an investment in Flyhomes and will offer the lender’s buy-before-you-sell products in the wholesale channel. Read More

Variety of Non-Agency MBS on Offer Early in 3Q

A cornucopia of non-agency MBS hit the market in early July. Read More

News Briefs

ARDRI appoints new vice president of wholesale production; delinquencies on closed-end second liens rising; New York Mortgage Trust raises capital. Read More

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