The REIT set a company record for locked jumbo business in the third quarter and then went on to break it in the fourth quarter. Redwood is focusing on prime jumbos as its expanded-credit lending has stalled.
The fintech upstart aims to issue a jumbo MBS during the first quarter of 2021 using blockchain technology. Mike Cagney’s shop also has applied for a bank charter.
Non-agency lenders will no longer have to look to stringent underwriting requirements set by the CFPB, which will likely shift some non-QM lending in-to the QM sector.
Citadel rebrands as Acra Lending; minimal non-agency MBS downgrades following review by Fitch; non-QM impairments decline; non-agency forbearance down slightly.
Facing criticism that the new qualified-mortgage standards could sharply reduce ARM originations, the CFPB said lenders did not provide convincing data during the comment period.
The firm launched in 2019 and has issued three unique securitizations this year, including closed-end second liens, home equity lines of credit and bridge loans.
A pilot program launched this year aimed at originating mortgages with balances of less than $100,000 has generated zero loans to this point. Reason: Interest rates on the loans look high.
Non-agency forbearance increases; SFVegas delayed to late July; Maxex offering preferred pricing on jumbos to certain lenders; NewRez non-QM VP opening; PCMA hires VP of direct channel originations.
RSS