Jumbo mortgages

The rate of mortgage applications dropped 6.7% in the week ending Sept. 25, according to the Mortgage Bankers Association.

A development team that includes a real estate investment arm of JPMorgan Chase is offering the ultra-wealthy a rare opportunity to build mansions bigger than the White House on a hillside overlooking Los Angeles.

American Advisors Group has begun marketing a jumbo reverse mortgage loan over a year after it first planned to issue them.

The refinance mortgage market's unexpected resilience in 2015 has come as the result of a number of well-timed factors coalescing to create a welcomed surprise to lenders.

Mortgage applications fell 6.2% from a week earlier on a seasonally adjusted basis for the seven days ended Sept. 4, according to the Mortgage Bankers Association.

Years after the great American housing bust, mortgages akin to the so-called liar loans — which were made without verifying people’s finances — are creeping back into the market.

Mortgage credit availability loosened in August as lenders have more jumbo loan products and added loans for borrowers with less-sterling credit, according to the Mortgage Bankers Association.

Mortgage applications rose 11.3% from a week earlier on a seasonally adjusted basis for the week ending Aug. 28, according to the Mortgage Bankers Association.

Parkside Lending has introduced jumbo mortgages for properties with loan-to-value ratios as high as 95% and without mortgage insurance.

Many Californians who earn the median household income for their area cannot afford to buy a house where they work, the California Association of Realtors said.

Mortgage application volume grew 3.6% on a seasonally adjusted basis compared with the week prior, according to the Mortgage Bankers Association.

The $3.9 billion-asset Luther Burbank Savings has opened retail loan origination offices in several Southern California cities to produce more jumbo mortgages. It is one of several lenders in the region that think jumbo loans are worth the risks to achieve growth.

Four more Federal Home Loan Banks have won regulatory approval to participate in a program that allows member institutions to sell jumbo mortgage loans through a conduit to Redwood Trust.

Applications for mortgages for new purchases fell 4% in July compared to June, according to the Mortgage Bankers Association.

Wells Fargo's head of mortgage lending, Mike Heid, will retire in October. The San Francisco company will promote Franklin Codel, head of mortgage production, to succeed Heid as head of Wells Fargo Home Lending.

Home shoppers in San Francisco needed incomes of $267,780 to become owners of a typical house in the second quarter as prices soared to a record.

Shellpoint Partners is preparing to issue its first private-label residential mortgage-backed security since walking away from its last deal in 2013.

Mortgage credit availability rose in July, as lenders pushed higher-balance loan products, according to the Mortgage Bankers Association.

Prospective borrowers for single-family homes will be required to make a minimum down payment of 15% of the purchase price, down from 20%. The borrower must have a minimum FICO score of 680, down from 740.

Mortgage applications rose a seasonally adjusted 4.7% for the week ending July 31, compared to the previous week.