We're beginning to hear some talk that certain lenders are getting "aggressive" when it comes to jumbo lending. Of course, the "new" aggressive means they are willing to originate jumbo and "super" jumbo loans as long as the customer puts 20% down. All new production (as you may've guessed) is being housed on the balance sheet of the originating bank or thrift. (I've also heard talk that a certain hedge fund soon might be jumping into this market as a portfolio lender.) And who are the nation's top jumbo funders? According to the Alternative Products Quarterly Data Report, Bank of America led the market in the first-half with $20 billion in fundings. For the full ranking email:
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The economy lost 23,000 jobs in July, but the unemployment rate ticked down to 4.1% all the same. The development could embolden both hawks and doves at the central bank.
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The lender posted another deep eight-figure loss in the second quarter, and will miss a breakeven goal later this year, interim CEO Daniel Lewis said.
August 6 -
Its success in a tough quarter was not just financial as it gained market share in both purchase and refinance volume to regain the No. 1 originator slot.
August 6 -
After shedding nearly 30% of its workforce in 2022, Envoy has leaned into a referral- and affiliate-based business model through strategic investments.
August 6 -
Rate movements changed market dynamics from early-year forecasts, contributing to risk signals in one out of every 119 applications, according to Cotality.
August 6 -
The company's affiliate has been issuing non-QM deals that include a small percentage of second liens, some of which also involve alternative documentation.
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