Overall, banks and thrifts held $2.491 trillion of first-lien mortgages at the end of June, up 0.7% from March.

Buydowns have fallen out of favor among borrowers this year as interest rates have continued to rise.

Mortgage performance could soon turn a corner, according to Black Knight.

FDIC examiners determined that the bank could have done more to encourage new borrowers to sign up for adjustable-rate mortgages.

Alt-doc products include asset depletion, asset utilization, trust income, bank statements and letters from certified public accountants.

The retail channel accounted for 85.9% of jumbo originations in the first six months of the year among a group of major lenders tracked by this newsletter, up from 80.2% in the first half of 2022. (Includes data chart.)

The FDIC found that stronger regulatory supervision could have made First Republic more resilient following the collapse of Silicon Valley Bank and Signature Bank.

Helped by its acquisition of First Republic Bank, JPMorgan Chase overtook Wells Fargo to have the largest first-lien portfolio among banks and thrifts in the second quarter. (Includes data chart.)

Lenders are considering alt-doc loans to drum up originations in a highly compressed market.

Saluda Grade has ramped up its efforts in the home equity agreements space with new securitizations and lines of credit.