Jumbo mortgages

As purchase applications stall in the heart of home buying season despite mortgage rates nearing two-year lows, lenders continued to loosen credit standards in May, according to the Mortgage Bankers Association.

Plaza Home Mortgage has improved its pricing for certain jumbo loans that Fannie Mae's automated underwriting system approves, but categorizes as ineligible due to loan size.

The shift to nonbank lenders will put the breaks on non-qualified mortgage and home equity line of credit origination growth.

Mortgage lending credit standards loosened a bit last month as investors displayed more interest in non-qualified mortgage and nonagency jumbo loans to stay competitive, according to the Mortgage Bankers Association.

Having a cash-out refinance program is important to greater share of originators in the West than it is in the United States as a whole, the Top Producers 2019 survey found.

Mortgage lending standards loosened in March, as a swell in jumbo credit helped drive an expansion in availability for the third straight month, according to the Mortgage Bankers Association.

Plaza Home Mortgage has expanded the guidelines of its wholesale and correspondent non-qualified mortgage program to allow using bank statements for documenting income.

The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes.

With the launch of its Medical Professional Mortgage Product, TD Bank is leveraging an opportunity to attract new customers and to address what it says is a knowledge gap among this group of professionals.

Mortgage lenders are optimistic about their business prospects during this spring's home purchase season even with the negative sentiments about demand in the previous three months, Fannie Mae said.