Jumbo lending increased by 22.5% in the second quarter but the sector lost market share as borrowers flocked to refinance agency mortgages. Wells Fargo remained the top-ranked jumbo lender by a small margin. (Includes data chart.)
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Thousands of non-qualified mortgages could receive safe-harbor status three years after origination under a new “seasoning” provision proposed by the CFPB.
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Servicing balance for jumbo mortgages fell in 2Q20 among a group of 30 servicers tracked by this newsletter, including the top three in the industry. (Includes data chart.)
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Happy with its returns from non-QM lending and MBS issuance from its investment in LendSure, Ellington Financial may invest in other originators.
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The ARM and IO share of loans in expanded-credit MBS increased in the second quarter. The volume of loans produced through the correspondent channel and for investor properties declined. (Includes three data charts.)
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Non-agency forbearance increases; prices for luxury homes fluctuate; PCMA sees strong interest in new non-QMs; Angel Oak and Citadel offer loans underwritten with 12 months of bank statements; former Redwood Trust president moves on to rent-to-own provider.
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