California, already the largest state in terms of jumbo originations, increased volume by 50% in 2019. Overall, jumbo originations increased by 37% last year. (Includes data chart.)

The proposal could eliminate GSE eligibility as a standard for a loan to be deemed a qualified mortgage. The regulator aims to level the playing field between the non-agency market and Fannie/Freddie.

Three prime non-agency deals were brought to market at the end of June. One of them is backed by GSE-eligible investment-property loans.

The retail channel lost market share in the jumbo sector during the first quarter of 2020. However, retail remains the predominant source of originations for the product. (Includes data chart.)

Wells Fargo is set to issue a $478.1 million jumbo MBS, marking only the second deal of the quarter.

For the first time in years, the amount of jumbo mortgage servicing outstanding declined on a quarterly basis. Looking forward, forbearance requests are a key issue. (Includes data chart.)

A $335 million deal from Goldman Sachs is the first prime non-agency MBS in the market since mid-March. The transaction includes mortgages originated in the past few months.

A coalition of industry trade groups asked the SEC to revise standards for publicly registered non-agency MBS. They suggested aligning standards with practices for private placements.

Beginning in March, the GSEs loosened certain appraisal standards due to complications from the coronavirus. A number of non-agency lenders are following the GSEs’ lead.

Redwood reduces both debt and the share of its debt subject to potential margin calls; Sprout launches new jumbo product.