REIT Reports 13 Whole Loan Securitizations YTD, Totaling $6.7 Billion – NMP Skip to main content

REIT Reports 13 Whole Loan Securitizations YTD, Totaling $6.7 Billion

Associate Editor
Jul 31, 2024

Annaly remains the largest sponsor of Non-QM securities in Q2 2024

Real estate investment trust (REIT) Annaly Capital Management generated ample dividend coverage in the second quarter, delivering a strong economic return year-to-date.

Annaly’s Residential Credit Portfolio totaled $5.9 billion in assets at the end of Q2 2024, a decrease of 4% compared to Q1 2024. This consisted of a $4.5 billion securities portfolio and a $1.4 billion whole loan portfolio.

"Despite modest widening in Agency MBS spreads, Annaly produced a positive economic return in the second quarter, supported by our diversified capital allocation, balanced hedge portfolio and responsible leverage position. Notably, Annaly generated a 5.7% economic return year-to-date, demonstrating the strength of our housing finance model," remarked Annaly's Chief Executive Officer and Chief Investment Officer David Finkelstein. "During the quarter, we opportunistically added to our Agency MBS portfolio given attractive spread levels, while we continue to expand our complementary Residential Credit and MSR platforms."

This most recent earnings report solidifies Annaly Residential Credit Group’s place as the largest non-bank issuer and second largest issuer overall of Prime Jumbo and Expanded Credit MBS, pricing 13 residential whole loan securitizations totaling $6.7 billion in proceeds since the beginning of 2024.

Its wholly-owned subsidiary Onslow Bay Financial remains one of the largest and most liquid sponsors of residential credit securitizations, holding over 25% of Non-QM issuance and 10% of total gross Non-Agency Issuance YTD.

The company’s loan lock volume of $7.8 billion YTD in 2024 has already surpassed its total lock volume for all of 2023, which stood at $7.6 billion. Second to Annaly for Q2 volume was Invictus Capital Partners, which reported total Non-QM securitizations of $3.911 million YTD.

Additionally, Onslow Bay reported the lowest delinquency rates among the top 10 Non-QM issuers in Q2, with declines across all product types.

"We are encouraged by recent inflation data and signaling from the Federal Reserve, which suggest a near-term rate cut is increasingly likely," Finkelstein added. "As interest rate volatility appears poised to moderate and more dovish monetary policy is on the horizon, we remain well-positioned for further growth given our substantial liquidity, prudent leverage and nimble capital structure."

About the author
Associate Editor
Erica Drzewiecki is an associate editor at NMP.
Published
Jul 31, 2024
More from
Wholesale
Point Launches Wholesale Channel, Taps Samuel Bjelac To Lead HEI Expansion

New TPO platform brings Point’s home equity investment product to mortgage brokers as demand grows for non-debt equity solutions

May 20, 2026
NAMB Expands Broker Toolkit With MortgageCoach Access To Boost Borrower Engagement

Partnership with trustEngine aims to help brokers strengthen client relationships and identify repeat business opportunities

May 18, 2026
Rocket Sues UWM, Alleging MSR ‘Clawback’ Campaign Violated Non-Solicitation Agreement

Rocket claims UWM sold Mr. Cooper servicing rights, then allegedly used broker incentives and refi tools to target the same borrowers

May 14, 2026
Fawaz, Ishbia Discuss Origna8; Equity Smart CEO Challenges Neutrality

Broker owner Pablo Martinez raises concerns about lead flow neutrality and lender influence

Apr 29, 2026
UWM Launches New Pricing Incentives For Brokers And Borrowers

United Wholesale Mortgage has introduced a limited-time 75-basis-point refi incentive and a $600 appraisal credit for purchase loans to support brokers and reduce borrower costs

Mar 04, 2026
Jet Mortgage Taps Greg Austin To Accelerate Wholesale Expansion

National wholesale lender named industry vet Greg Austin executive vice president of wholesale to lead national broker engagement, drive channel growth, and expand the company’s wholesale footprint

Feb 26, 2026