Jumbo Conduits Looking for More Lenders, Seen as Strong Option Among Loan Buyers
July 2, 2013
Jumbo conduits such as Credit Suisse and Redwood Trust are working to increase the number of correspondent lenders they work with as the non-agency jumbo mortgage-backed security market starts to rebound. The conduits offer attractive execution for lenders that dont want to hold jumbo originations in portfolio, according to industry participants. Jumbo conduits are a real business thats going to be in this for the long term, said Peter Sack, a managing director at Credit Suisse, during a webinar hosted by Inside Mortgage Finance late last week. Some $3.9 billion in non-agency jumbo mortgage-backed securities were issued...