Increased jumbo production from UWM helped boost broker originations, while Wells Fargo’s exit from correspondent lending hurt that channel’s market share as other lenders didn’t pick up the slack. (Includes data table.)
A sharp drop in jumbo originations in the fourth quarter of 2023 saw the sector’s market share of total first-lien originations narrow. (Includes data table.)
While the retail channel remained the predominant source for jumbo lending, originations through the channel fell 9.0% from the second to the third quarter. Correspondents and brokers gained share. (Includes data table.)
LoanNex reported an increase in non-QM pricing scenarios in October as borrowers are more willing to lock loans in the current interest rate environment.
The FHFA increased the baseline conforming loan limit by 5.6% for 2024, while new research finds increasing conforming loan limits impacts home prices and loan volumes.