Wells Fargo stopped originating jumbos through the correspondent channel and few lenders moved to pick up the slack. Meanwhile, the retail channel gained market share. (Includes data chart.)
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First-lien holdings at banks increased somewhat in the first quarter of 2023. And recent bank failures led to portfolios changing hands. (Includes data chart.)
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The share of no- or sub-ratio loans in the DSCR space rose to 43.7% in the first quarter of 2023, according to DBRS. A ratio of less than 1.0 indicates monthly rent doesn’t fully cover loan payments.
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The lender’s lawsuit alleges that a former account executive took private broker information from the company’s database and broke the lender’s noncompete clause.
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Maryland passed legislation with new standards for shared appreciation agreements as the niche sector continues to see strong demand from homebuyers.
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Surge of non-agency MBS hits market; Redwood partners with Oaktree on business-purpose loans; A&D Mortgage launches second-mortgage product; former First Republic CEO appointed to lead Turkey’s central bank.
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