Correspondent sales of jumbo mortgages originated in 2024 increased by more than 60% on an annual basis. The largest sellers were almost all nonbanks, though Chase cracked the top 5 with its deliveries into non-agency MBS. (Includes data table.)
Federal agencies have used the higher-priced mortgage designation as a proxy for subprime lending. Strategies vary among the biggest originators of higher-priced mortgages, including focusing on loans for manufactured homes or expanded-credit mortgages. (Includes two data tables.)
Debt service coverage ratio mortgages, residential transition loans and other alternative products include some unique features that can’t necessarily be handled well by servicing systems for standard residential mortgages.
The House Veterans’ Affairs Committee forwarded a partial claims bill to Congress, but committee members warned that tens of thousands of veteran borrowers are facing foreclosure in the meantime.
Veterans United Home Loans saw a sharp decline in correspondent sales of government-backed loans in 2024, while volume at Guild Mortgage and Rate surged. (Includes data table.)