The jumbo sector bucked trends in the broader mortgage market, with a 3.1% increase in origination volume in the second quarter. A handful of banks sharply increased their jumbo lending during that period. (Includes data chart.)
Non-agency business-purpose lending is paying off for Velocity Financial. The firm turned a profit in the second quarter despite a decline in originations.
Angel Oak Mortgage suffered widening losses in the second quarter amid weak demand in the secondary market for non-QMs. Still, officials at the REIT suggest that things are looking up.
Among the top 30 jumbo servicers, portfolios increased during the second quarter. Servicing declined at top-ranked Wells and increased at nearly all others in the top 10. (Includes data chart.)