Brookfield to acquire majority stake in Angel Oak; Dominion Financial launches AI chatbots; Carrington Mortgage’s correspondent channel goes fully non-QM; Sachem Capital takes loss in 2024.
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.)
It will be the 11th issuance of its type by loanDepot.
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