Originations of jumbo mortgages increased at First Republic Bank despite rising interest rates. Officials at the bank said a number of factors led to the nearly 20% increase in originations during the January-March cycle.

Investment-property mortgage volume delivered to the GSEs was flat on a sequential basis in the first quarter, second-home volume declined by 8.0% and conforming jumbo business fell 38.5%. (Includes data chart.)

Rising interest rates are leading to diminished demand for non-QM whole loans saddled with lower rates. Longer term, industry participants remain optimistic.

Correspondent sales of jumbo mortgages to unaffiliated buyers more than doubled in 2021, with Guaranteed Rate leading the pack. (Includes two data charts.)

Issuance of non-agency MBS ground to a halt near the end of March but gained some momentum this week, led by prime deals.

Angel Oak Mortgage Solutions had sued four former loan originators and LendSure Mortgage under the Georgia Trade Secret Act.

Redwood unveils bank-statement loans; Axos offering jumbos with deferred interest; Arc Home expands non-QM offerings; Homepoint starts construction financing; The Change Company raises equity; Vontive offering IPL platform.

In the secondary market, issuers have had to deal with diminished demand for mortgage products originated prior to the recent runup in interest rates. Is the worst behind the sector?

Fannie’s CEO is set to retire. The GSE chair is departing as well; Waterfall Asset Management launches non-agency MBS with Ginnie EBOs; hurricanes impacting performance of solar ABS.

While states offered broad temporary flexibilities regarding LO licensing and location requirements during the pandemic, the transition out of the temporary standards has been bumpy.