Rising interest rates and tightening of credit standards from banks caused a slowdown in jumbo lending in the first quarter of 2023. First Republic Bank was the top producer in the sector, followed by Wells Fargo. (Includes data chart.)
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Deephaven Mortgage and Arc Home are looking to add to their operations and sales teams to take advantage of upcoming opportunities in the non-QM space.
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Originations of higher-priced mortgages slightly increased last year, with many loans produced by CDFIs and lenders who specialize in mobile and manufactured homes. (Includes two data charts.)
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The asset management firm turned non-agency loan originator continued to build its direct-to-borrower and wholesale channels in the early months of 2023.
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Velocity Financial reduced its production of business purpose loans for the second consecutive quarter but remained profitable in the early months of 2023.
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Republic First Bank exits mortgage business; LoanNex’s non-QM marketplace comes to LendingPad; Former Athas Capital CEO to launch non-QM shop; new non-agency MBS; Maxex debuts program for alternative-doc loans.
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