Redwood acquisitions of jumbo mortgages declined by more than 70% on a sequential basis in the third quarter. Officials at the REIT suggested that Redwood will continue to limit loan acquisitions until market dynamics improve.

An affiliate of Bayview Asset Management is set to issue its first jumbo MBS since December. Loans in the deal have seasoned for an average of 4.5 months and were sourced from a number of lenders.

Redwood offers some early insight on third quarter performance; Fitch upgrades assessment of Carrington Mortgage; LauraMac launches loan acquisition system; Toorak tops $10 billion in funding since inception in 2016.

Non-QM impairments decline after two-month increase; Balbec unit offers non-QM MBS with loans from Sprout; new CIO at Redwood; Velocity quickly packages business-purpose loans.

The correspondent channel gained market share in the jumbo sector in the second quarter. The retail channel, though, remained the predominant source of jumbos, with strong competition in the channel among banks. (Includes data chart.)

Shellpoint handled servicing on nearly 35% of the non-agency MBS issued in the second quarter of 2022. (Includes data chart.)

A number of lenders have started offering conforming mortgages with balances as high as $715,000, even though the GSE loan limit is $647,200 through the end of this year. As with prior years, the lenders are anticipating higher loan limits for the GSEs next year.

The non-agency market hasn’t lived up to the hype, according to Mat Ishbia of United Wholesale Mortgage, which saw a drop in non-agency lending. The overall sector, meanwhile, saw higher production and gained market share in the second quarter.

Impac could be delisted; UWM offering HELOCS, including a piggyback option; Redwood “above average,” says Moody’s; CrossCountry launches bridge offering; Singapore-based lender offering jumbos in the U.S. with balances of up to $150 million for overseas investors.

The jumbo sector bucked trends in the broader mortgage market, with a 3.1% increase in origination volume in the second quarter. A handful of banks sharply increased their jumbo lending during that period. (Includes data chart.)