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    <title>Securitization</title>
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    <item>
      <title>Pennymac Tops Prime Non-Agency MBS Contributors in 3Q</title>
      <author>azimmardi@imfpubs.com</author>
      <description>
        <![CDATA[During the third quarter of 2025, Pennymac once again passed JPMorgan Chase as the largest contributor to prime non-agency mortgage-backed securities. (Includes three data tables.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/235768</guid>
      <pubDate>Fri, 31 Oct 2025 14:19:22 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/235768-pennymac-tops-prime-non-agency-mbs-contributors-in-3q</link>
    </item>
    <item>
      <title>AGMIT Retaining Risk on Figure Securitization</title>
      <author>azimmardi@imfpubs.com</author>
      <description>
        <![CDATA[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.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234773</guid>
      <pubDate>Fri, 11 Jul 2025 14:05:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234773-agmit-retaining-risk-on-figure-securitization</link>
    </item>
    <item>
      <title>Mixed Trends in Performance of Expanded-Credit MBS</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[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.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234776</guid>
      <pubDate>Fri, 11 Jul 2025 14:03:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234776-mixed-trends-in-performance-of-expanded-credit-mbs</link>
    </item>
    <item>
      <title>Variety of Non-Agency MBS on Offer Early in 3Q</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[A cornucopia of non-agency MBS hit the market in early July.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234770</guid>
      <pubDate>Fri, 11 Jul 2025 14:01:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234770-variety-of-non-agency-mbs-on-offer-early-in-3q</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Impairment rate on securitized non-QMs rises in May; Rocket offering bridge loans; architecture firm to acquire non-QM lender; Chimera unit aggregating HEIs for securitization.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234679</guid>
      <pubDate>Fri, 27 Jun 2025 13:37:50 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234679-news-briefs</link>
    </item>
    <item>
      <title>Refis Boost Prime Non-Agency MBS in First Quarter</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[The volume of rate/term refis in prime non-agency MBS more than doubled compared with the fourth quarter of 2024. Still, purchase mortgages dominate issuance.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234174</guid>
      <pubDate>Fri, 02 May 2025 13:10:21 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234174-refis-boost-prime-non-agency-mbs-in-first-quarter</link>
    </item>
    <item>
      <title>Annaly Seeing Resilient Demand for Non-Agency MBS</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Annaly started marketing an expanded-credit MBS last month just as President Trump announced new tariffs. The deal went through at a spread that likely wouldn’t have been achievable as recently as three years ago.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234175</guid>
      <pubDate>Fri, 02 May 2025 13:07:29 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234175-annaly-seeing-resilient-demand-for-non-agency-mbs</link>
    </item>
    <item>
      <title>Rithm’s Investment Portfolio Recovers in First Quarter</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Rithm is both a buyer and seller of non-agency mortgages. Wider spreads in recent months have helped generate strong returns from loan acquisitions. Meanwhile, RTL production through its Genesis unit slowed during the first quarter.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234176</guid>
      <pubDate>Fri, 02 May 2025 13:04:30 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234176-rithms-investment-portfolio-recovers-in-first-quarter</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[Impairment rate on non-QMs declines; new issuers of home equity loan securitizations; bank offers new jumbo ARMs via wholesale channel; proprietary reverse-mortgage product from Liberty Reverse Mortgage.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234173</guid>
      <pubDate>Fri, 02 May 2025 13:02:34 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234173-news-briefs</link>
    </item>
    <item>
      <title>Non-Agency Boost an Option With GSE Reform</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[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.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234043</guid>
      <pubDate>Fri, 18 Apr 2025 14:06:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234043-non-agency-boost-an-option-with-gse-reform</link>
    </item>
    <item>
      <title>Maryland Legislature Cleans Up MBS Licensing Mess</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[A new bill sets exemptions for secondary market participants after a state regulator established deeply unpopular licensing requirements at the beginning of the year.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/234044</guid>
      <pubDate>Fri, 18 Apr 2025 14:05:00 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/234044-maryland-legislature-cleans-up-mbs-licensing-mess</link>
    </item>
    <item>
      <title>Non-Agency MBS Market Starts Strong in 2025</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Expanded-credit mortgages, jumbo loans and GSE-eligible collateral in MBS securitizations were all up in the first quarter of 2025. (Includes data tables.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233924</guid>
      <pubDate>Fri, 04 Apr 2025 14:37:36 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233924-non-agency-mbs-market-starts-strong-in-2025</link>
    </item>
    <item>
      <title>Velocity Sees Record Profits in 4Q</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[The lender is seeing strong demand from borrowers and the secondary market for non-agency business purpose loans.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233786</guid>
      <pubDate>Fri, 21 Mar 2025 15:18:05 -0400</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233786-velocity-sees-record-profits-in-4q</link>
    </item>
    <item>
      <title>Insurers Driving Non-Agency Whole-Loan Demand</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Insurance companies are using whole-loan purchases to better define the credit box for originations.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233653</guid>
      <pubDate>Fri, 07 Mar 2025 14:22:32 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233653-insurers-driving-non-agency-whole-loan-demand</link>
    </item>
    <item>
      <title>Non-Agency Deals Help Boost Ellington Financial</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Increased securitization issuance in the fourth quarter helped fuel profits for Ellington Financial.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233650</guid>
      <pubDate>Fri, 07 Mar 2025 14:19:34 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233650-non-agency-deals-help-boost-ellington-financial-in-4q</link>
    </item>
    <item>
      <title>Industry Expects More Growth for HEIs</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[New ratings methodology and additional historical data on home equity investments should boost investor demand for the product in 2025.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233651</guid>
      <pubDate>Fri, 07 Mar 2025 14:18:43 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233651-industry-expects-record-growth-for-heis</link>
    </item>
    <item>
      <title>MFA Bullish About Non-QM Originations in 2025</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Although it booked a loss in the fourth-quarter, MFA believes a variety of management changes at its business-purpose affiliate lender will boost originations in 2025.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233526</guid>
      <pubDate>Fri, 21 Feb 2025 13:31:08 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233526-mfa-bullish-about-non-qm-originations-in-2025</link>
    </item>
    <item>
      <title>NYMT Boosts BPL Portfolio in 2024</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[The firm has been restructuring its portfolio since 2022 with the goal of producing “durable” earnings.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233525</guid>
      <pubDate>Fri, 21 Feb 2025 13:30:10 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233525-nymt-boosts-bpl-portfolio-in-2024</link>
    </item>
    <item>
      <title>Handful of Lenders Fueling Prime Non-Agency MBS</title>
      <author>bivey@imfpubs.com</author>
      <description>
        <![CDATA[A small group of lenders accounted for the majority of prime non-agency MBS issued in 2024. JPMorgan Chase was the leader in the market as both an issuer and lender. (Includes three data tables.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233390</guid>
      <pubDate>Fri, 07 Feb 2025 15:25:31 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233390-handful-of-lenders-fueling-prime-non-agency-mbs</link>
    </item>
    <item>
      <title>Updated MD Guidance Leads to Uncertainty for Non-Agency</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Updated guidance has exempted the GSEs from state mortgage licensing requirements but non-agency market participants still need to comply with the rule by April.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233370</guid>
      <pubDate>Fri, 07 Feb 2025 15:22:33 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233370-gse-eligible-loans-hit-non-agency-mbs-following-conservatorship-talk</link>
    </item>
    <item>
      <title>Core Product Share of GSE Business Level in 4Q</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[It was largely business as usual for Fannie Mae and Freddie Mac in the fourth quarter. But going forward, the Trump administration could make moves to reduce the two GSEs’ activity. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233273</guid>
      <pubDate>Fri, 24 Jan 2025 14:45:17 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233273-core-product-share-of-gse-business-remains-flat-in-4q</link>
    </item>
    <item>
      <title>More Opportunities for Nonbank Lending Expected in 2025</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Bank exits and interest rate uncertainty could create new opportunities for nonbanks to acquire loans from depository balance sheets.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233280</guid>
      <pubDate>Fri, 24 Jan 2025 14:40:23 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233280-more-opportunities-for-nonbank-lending-expected-in-2025</link>
    </item>
    <item>
      <title>Prime Loan MBS Issuance Declines in 4Q</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[ECM and agency-eligible loans helped pick up the slack for non-agency MBS issuance in the fourth quarter as prime volume slowed.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233145</guid>
      <pubDate>Fri, 10 Jan 2025 15:45:34 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233145-prime-loan-mbs-issuance-declines-in-4q</link>
    </item>
    <item>
      <title>Redwood’s Aspire Platform Increases Expanded-Credit Offerings</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Redwood said it will now aggregate bank statement loans, CPA-prepared profit-and-loss statements and debt service coverage ratio loans through its Aspire correspondent platform.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233157</guid>
      <pubDate>Fri, 10 Jan 2025 15:43:36 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233157-redwood-expands-aspire-into-ecm-market</link>
    </item>
    <item>
      <title>Non-QM Impairments Hit Two-Year High in November </title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[MBS investors remain protected despite rising delinquencies on non-qualified mortgages.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233152</guid>
      <pubDate>Fri, 10 Jan 2025 15:40:37 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233152-non-qm-impairments-continue-to-rise</link>
    </item>
    <item>
      <title>Groundfloor Sees Busy Year for Fix-and-Flip Market</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[RTL lender Groundfloor believes strong investor demand and a lack of available housing should help boost the market this year.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233150</guid>
      <pubDate>Fri, 10 Jan 2025 15:38:38 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233150-groundfloor-eyes-busy-year-for-fix-and-flip-market</link>
    </item>
    <item>
      <title>Usual Issuers Kick Off Non-Agency MBS for 2025</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Three issuers have started marketing non-agency MBS thus far in January, including two expanded-credit MBS.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233158</guid>
      <pubDate>Fri, 10 Jan 2025 15:33:46 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233158-non-agency-mbs-market-off-to-slow-start-in-2025</link>
    </item>
    <item>
      <title>News Briefs</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[New York Mortgage Trust to issue a $75.0 million debt offering; Morningstar DBRS deems Radian unit “acceptable” for third-party due diligence; Arc adds new executives. Page 8.NYMT to issue a $75.0 million debt offering; Morningstar finds Radian "acceptable" for third-party due diligence; Arc adds new executives from Flagstar and Newrez.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233159</guid>
      <pubDate>Fri, 10 Jan 2025 14:32:42 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233159-news-briefs</link>
    </item>
    <item>
      <title>Shellpoint Regains Lead Among Non-Agency MBS Servicers</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[Shellpoint handled servicing on 32.3% of the non-agency MBS issued during the third quarter. (Includes data table.)]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/232998</guid>
      <pubDate>Fri, 20 Dec 2024 12:07:53 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/232998-shellpoint-regains-lead-among-non-agency-mbs-servicers</link>
    </item>
    <item>
      <title>Chase Leads Last Batch of Non-Agency MBS for 2024</title>
      <author>jdohnert@imfpubs.com</author>
      <description>
        <![CDATA[JPMorgan Chase started marketing a variety of non-agency MBS over the past two weeks, including its first deal stocked with non-QMs for primary residences.]]>
      </description>
      <guid>http://www.insidemortgagefinance.com/articles/233012</guid>
      <pubDate>Fri, 20 Dec 2024 12:05:56 -0500</pubDate>
      <link>https://www.insidemortgagefinance.com/articles/233012-investors-receive-a-slate-of-new-non-agency-mbs-ahead-of-2025</link>
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