Originations of non-agency jumbo mortgages declined by 34.8% from the second to the third quarter, driven by rising interest rates. The decline in the jumbo sector was largely in line to trends in the mortgage market. (Includes data chart.)

Despite a drop in jumbo originations, servicing portfolios at many shops increased during the third quarter. Top-ranked Wells Fargo saw its jumbo servicing portfolio go up by less than 1%, while second-ranked Chase did slightly better at 2.6%. (Includes data chart.)

The latest expanded-credit MBS from the Hollywood, FL-based lender is smaller than previous transactions from the firm.

First Republic Bank isn’t increasing its interest rates for jumbo mortgages at the same pace that the Fed is increasing interest rates, leading to lower margins for the bank.

Annaly was the top issuer of non-agency MBS in the third quarter. The REIT had to retain more of its issuance than usual due to weak investor demand.

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.)