Trends varied at the three big banks in the jumbo market. Wells Fargo, for instance, paused originations of the loans through correspondents in the second half of the year...
Issuers of MBS and ABS should use a 30-day average of SOFR rather than LIBOR when setting adjustable-rate terms for new deals, according to recommendations from a group convened by the Fed.
The retail channel accounted for nearly 90% of jumbo mortgage originations last year. The channel gained share from both correspondents and brokers. (Includes data chart.)
A group of 15 lenders tracked by this publication increased production of IOs in 2020. Many of them are banks that are able to keep the loans in portfolio. (Includes data chart.)
The margins on originating non-QMs look good enough for Impac to resume production. The lender suffered a large loss in 2020, partially due to pandemic-driven volatility in the sector.