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Volume 2017 - Number 35

September 14, 2017

Redwood Sourcing ‘Expanded Prime’ Jumbo Mortgages From Hundreds of Correspondents

Redwood Trust has seen strong demand from borrowers and correspondent lenders for its ďexpanded primeĒ program that the aggregator introduced last year. The real estate investment trustís Choice products allow for somewhat looser underwriting than the super-prime mortgages that have dominated the jumbo market after the financial crisis. The Choice program was introduced in April 2016. Volume has increased relatively quickly and could top $1.0 billion this year. Officials say...

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%