Prime non-agency MBS issuance declined by nearly 20% on a sequential basis in the first quarter of 2022. However, loanDepot nearly doubled its activity in the market during that span. (Includes three data charts.)
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Originations of jumbo mortgages increased at First Republic Bank despite rising interest rates. Officials at the bank said a number of factors led to the nearly 20% increase in originations during the January-March cycle.
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Investment-property mortgage volume delivered to the GSEs was flat on a sequential basis in the first quarter, second-home volume declined by 8.0% and conforming jumbo business fell 38.5%. (Includes data chart.)
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Rising interest rates are leading to diminished demand for non-QM whole loans saddled with lower rates. Longer term, industry participants remain optimistic.
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Correspondent sales of jumbo mortgages to unaffiliated buyers more than doubled in 2021, with Guaranteed Rate leading the pack. (Includes two data charts.)
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Redwood unveils bank-statement loans; Axos offering jumbos with deferred interest; Arc Home expands non-QM offerings; Homepoint starts construction financing; The Change Company raises equity; Vontive offering IPL platform.
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