| 2015 | 2014 | 2013 | |
|---|---|---|---|
| ABS (Public + 144A) | 27,562.4 | 23,938.7 | 29,267.4 |
| ABS (Public + 144A excluding CDOs) | 24,122.7 | 20,071.8 | 21,039.9 |
| ABS (Public Only) | 15,062.5 | 15,645.5 | 16,023.8 |
| ABS (144A Only) | 12,500.0 | 8,293.3 | 13,243.6 |
| Non-Agency MBS | 7,305.3 | 11,144.9 | 17,551.8 |
| Agency MBS | 4,852.5 | 25,356.4 | 29,070.2 |
| CMBS | 5,143.7 | 8,779.8 | 16,480.1 |
SOURCE: Thomson Reuters
The percentage of investors who view the market as better than it was a year ago fell to 36% from 45% in the winter, according to a spring survey.
The A1 VFN tranche is a variable funding note whose proceeds can be used for general corporate purposes, including acquisitions.
The company turned a GAAP profit of $170.4 million for the quarter, with its volume and margins relatively flat compared with the fourth quarter of 2025.
An array of unnamed originators accounted for the large majority of originators in the pool, 89.3%, the rating agencies said, while Hometown Equity Mortgage originated 10.7% of the pool.
PennyMac Financial Services reported $82.3 million net income, inclusive of a $44 million net reduction related to servicing fair value and hedge losses.
Economic uncertainty weighed on risk appetite, but the current performance of the non-QM market is "durable," Angel Oak leaders said in an earnings call.
