Production of jumbo mortgages in all three channels was down from the second quarter, but correspondents posted a relatively smaller decline than retail producers and brokers. (Includes data chart.)
United Wholesale Mortgage is offering prime jumbo borrowers a 2-1 or 1-0 temporary rate buydown. Meanwhile, A&D Mortgage announced temporary 3-2-1- and 2-1 rate buydowns.
Depositories grew their first-lien portfolios during the third quarter. JPMorgan was the only bank among the top 10 to report a sequential decline. (Includes data chart.)
A recent ruling by a California appeals court tied to default interest charges by lenders and servicers could have national implications, according to industry attorneys.