While Fannie, Freddie and Ginnie continued to dominate the business of securitizing income-property mortgages, issuance of non-agency CMBS gained ground in 2019 thanks to significant increases in office, industrial and multifamily transactions.

To avoid retaining risk in securitization deals, mortgage lenders are joining hands with investors who act as “co-sponsors” and take on the first-loss position.

Radian has pulled the plug on its experiment in the due diligence arena by selling Clayton Services. The unit’s new owner, Covius, is bullish on its prospects.