Jumbo mortgages

It’s getting easier to close bigger loans for higher-priced properties, but credit is expanding slower for first-time buyers.

More lenders are willing to take on borrowers who are lower on the qualification spectrum as the economy rebounds.

The company posted an $88 million loss for 2020 after shutting down for nearly the entire second quarter.

Finance of America Reverse's product combines features of a forward mortgage, like 10 years of payments, with parts of a non-recourse reverse loan.

The number of product offerings stayed at a level last seen in 2014 as slight gains in government and jumbo loans were offset by fewer conventional mortgages coming on the market.

But the average amount for a purchase loan increased to an all-time high, showing the upper end of the housing market remains strong.

Upcoming changes to underwriting regulations, as well as the end of the QM patch, in addition to growing home values, all add up for this market to have a good year.

Loan originations hit a record $16.7 billion in the fourth quarter, though executives caution that a recent rise in mortgage rates could slow refinancing activity.

The pool of 359 loans also on average carry higher balances (over $900,000) compared to the REIT's earlier pass-through deal this year.

But existing deals are likely to experience issues resulting from higher defaults, faster prepayment speeds.