Lock volume for planned acquisitions of jumbo mortgages declined in the second quarter at Redwood Trust. Still, officials are optimistic about growth in the non-agency market.
Nearly 70% of the non-QMs originated in 2020 included an IO term, according to a new INM analysis. The top two lenders were banks. (Includes data chart.)
Churchill Real Estate launched a table funding option, Toorak a securitization and Sachem raised $43 million via a stock sale. Meanwhile, the fix-and-flip market was on the decline in the first quarter.
Originations of adjustable-rate mortgages declined by 15% on a sequential basis in the first quarter of 2021. The ARM share of total originations also fell below 5%. (Includes data chart.)
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