Jumbo mortgages

Redwood Trust's net income was down 30% from the prior quarter as mortgage banking activities earnings fell by 60%.

Mortgage credit accessibility kept climbing in July, mostly thanks to an expansion of jumbo loan products offered, pushing that index to its historical high point, according to the Mortgage Bankers Association.

Some collateral attributes, such as non-full documentation and a high percentage of non-QM and HPQM loans, fall slightly outside the credit box seen in other recent prime transactions, according to Fitch.

Redwood Trust has priced a new stock offering that is aimed at increasing funding to new initiatives like investments in the single-family rental and multifamily sectors as well as routine business.

American Mortgage Consultants has acquired the right to hire 50 employees from The Barrent Group and will add 150 more in response to increased private-label securitization.

As property values continue appreciating, Caliber Home Loans added a jumbo loan product to its portfolio lending suite to support borrower needs in a climate of higher home prices.

Optimal Blue is expanding its reach in the secondary mortgage market by acquiring Resitrader, a whole-loan trading marketplace that has integrations with Fannie Mae and Freddie Mac.

Access to mortgage credit inched up in June, as competition for jumbo loans resulted in looser underwriting, but government lending standards got more restrictive, the Mortgage Bankers Association said.

Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete.

Mortgage credit availability increased in May by 1.5% as more jumbo and high-balance conforming loan products came on the market, the Mortgage Bankers Association said.