Turmoil in the secondary market regarding prices paid for expanded-credit loans may be feeding job cuts at Sprout Mortgage. It’s hard to say, though. The New York-based company is keeping a low profile.
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.)
Kroll Bond Rating Agency published a report focusing on mortgages originated by CDFIs and their inclusion in non-agency MBS. The Change Company defended its practices while Quontic Bank stopped offering “no ratio” loans.