The correspondent share of nonconforming originations returned to the double digits in the fourth quarter of 2024. Though for the full year, correspondents lost market share.
Loan originators are looking to bank statement and DSCR loans to boost production in a higher-for-longer interest rate environment, according to Tom Hutchens, president of Angel Oak Mortgage Solutions.
Jumbo originations increased by more than double digits from the third to the fourth quarter of 2024. On an annual basis, the jumbo share of total originations held steady. (Includes data table.)
New non-QM lender opens shop; Angel Oak REIT posts 4Q loss; A&D Mortgage and Imperial Fund look to attract more insurance company investors through a new partnership with Clearwater Analytics.
Christopher Stanley, a security engineer at SpaceX, is the first member of Elon Musk’s Department of Government Efficiency to join a GSE board.
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