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.
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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