The program provides borrowers a 3% downpayment assistance second lien with up to $15,000 in financing. The loan does not accrue interest and does not require a monthly payment.

The jumbo market’s share of first-lien production narrowed to 11.1% in the first quarter from 12.4% in the fourth quarter.

A&D’s in-house software development team spent two years working on AI tools for the lender's broker portal.

Originations of jumbo mortgages declined in the first three months of the year driven by a retreat among banks. Nonbank lenders picked up some of the slack. (Includes data table.)

Freddie Mac’s proposal to acquire closed-end second liens is unnecessary because there are adequate options available in the non-agency market, according to a number of trade groups.

Rejection rates on jumbo mortgage applications increased last year even as application volume declined. (Includes data table.)

The deal includes a mix of second liens underwritten to bank statements and full documentation.

Lenders and tech vendors believe AI can be used to help qualify more nontraditional borrowers in the non-QM space.

Despite slight declines in portfolios among the top jumbo servicers, servicing volume for the jumbo market stayed relatively flat from the fourth to the first quarter. (Includes data table.)

EasyKnock, a New York-based home equity solutions platform, this month acquired HomePace, a Park City, UT-based provider of home equity investments.