Bank of America increased its MBS portfolio by a whopping $93.5 billion during the fourth quarter. Big gains were also reported by Chase, Schwab and Truist. (Includes two data charts.)

Originators of non-qualified mortgages are selling product in smaller batches and as whole loans. The reason: better execution than delivering them into MBS.

Angel Oak, a big player in the non-QM market, sees better days ahead, with securitzations leading the way. Fundings at the firm are nearing pre-pandemic levels.