Western Asset Management Company considering a sale of its non-agency REIT; Velocity offers another small-balance commercial MBS; PennyMac ramping up jumbo originations.

First Republic increased its originations for the second consecutive quarter thanks to a focus on jumbos. The bank puts an emphasis on customer service and benefits from having a portfolio to hold mortgages.

Since December, interest rates have increased on both non-agency jumbos and conventional-conforming mortgages. But rates have increased by a lower amount on jumbos thanks to demand for the loans at banks.

Western Alliance Bank sold first-loss exposure on a pool of mortgages with an unpaid principal balance of $3.88 billion. The mortgages were acquired from various correspondent sellers and include many non-agency jumbos.

Lagging data aggregated from counties provides some new insight into trends in jumbo originations in the first quarter of 2022.

Redwood released a report with various ESG disclosures, addressing certain topics set by the Sustainability Accounting Standards Board.

No channel was immune to the downturn in jumbo originations in the first quarter of 2022, but the retail channel suffered the least. There were also wide variations at the lender level in originations trends. (Includes data chart.)

Non-agency MBS issuance nearly frozen; Redwood raises funds with debt sale; DBRS accepts more firms for due diligence.

The decline in jumbo production in the first quarter largely tracked the overall drop in mortgage originations. Many banks kept their underwriting standards for the loans unchanged while demand decreased. (Includes data chart.)

Trends varied among the largest servicers of jumbo mortgages in the first quarter. Portfolios increased overall while the top two jumbo servicers reduced their portfolios. (Includes data chart.)