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.)
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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.
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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.)
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Nonprime REIT Angel Oak Mortgage is redoing some of its warehouse facilities, ending one line and increasing another. The goal: to buy time in a turbulent market.
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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.
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The model will help stakeholders predict prepayments on both their current portfolios and future purchases for both mortgage-backed securities and whole loans.
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