For months the industry has been hearing plenty of talk about new entrants to the jumbo securitization market. The great irony of all this talk is that only one new jumbo MBS deal has come to market this year: a spring offering by Redwood Trust. However, we're starting to hear reports that some originators of jumbos are reluctant to sell their product into the secondary market because they like the yield on these nonconforming loans, many of which have downpayments of 20% or more. If you hear anything drop me a line at:
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The latest runup alarmed lenders but offered some new servicing opportunities unique to this market that can benefit both sides of the business.
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ICE dropped its post-Dec. 31 SDK access fee as migration lags. Audit plugins, get written confirmation from ICE, budget for dual-running and weigh API-native rivals.
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Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.
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The serial entrepreneur, who also created Rapid Reporting and American Transfer & Trust, plans to remain active in industry causes, a LinkedIn post said.
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Almost 45% of buyers received a seller concession this summer, while more than 15% saw a reduction in the asking price to go along with it, according to Redfin.
September 18 -
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
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