Jumbo mortgages

Although forecasts anticipate a continuing drop in overall originations, private-label residential mortgage-backed securitizations backed by newer loans are expected to keep increasing through next year, according to Bank of America.

Lenders offered fewer government-guaranteed mortgage programs in September, leading to an overall decline in mortgage credit availability, according to the Mortgage Bankers Association.

Finance of America Reverse is offering a new second-lien alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that can be placed on a property with a pre-existing first-lien loan.

Increased competition among non-qualified mortgage lenders leading to lower starting interest rates for borrowers should result in fewer of these loans prepaying within one year of origination, said Standard & Poor's.

Mortgage credit accessibility dropped for the first time in four months as jumbo loan products took a step back, according to the Mortgage Bankers Association.

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

Private-label versions of the Federal Housing Administration's Home Equity Conversion Mortgage have spread to the point where a widely-used loan origination system has added technology to handle the product.

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks.

Nearly half the loans were derived outside J.P. Morgan's retail channel, a level not seen in its conforming and prime jumbo securitizations since 2017.

Quicken Loans subsidiary One Reverse Mortgage is rolling out a private-label alternative to the Federal Housing Administration's Home Equity Conversion Mortgage that offers higher loan limits and more flexible underwriting terms.