Originations of non-agency jumbo mortgages increased by 35% from the first to the second quarter. JPMorgan Chase’s acquisition of First Republic Bank bolstered Chase’s jumbo lending efforts. (Includes data chart.)
Lenders of non-qualified mortgages are continuing to reduce expenses through increased use of technology and adjusting compensation of certain employees.
Altisource Asset Management is considering changes to its non-agency origination business as losses pile up. Alternatives under consideration include a sharp pivot to electric vehicle charging.