In the second quarter, lenders funded $565 billion, an eye-popping sequential gain of 59.2%. It’s anticipated that the fourth quarter will yield the same, if not more.
JMP Securities has a “market perform” rating on Impac Mortgage, the publicly traded nonbank that’s trying to carve out a space for itself in the non-QM sector but can’t resist the temptation of reaching for GSE refis...
First Republic, JPMorgan Chase and CitiMortgage led the IO pack during the second quarter. Interest-only originations tend to be concentrated in the jumbo space...