Rising interest rates and tightening of credit standards from banks caused a slowdown in jumbo lending in the first quarter of 2023. First Republic Bank was the top producer in the sector, followed by Wells Fargo. (Includes data chart.)
Originations of higher-priced mortgages slightly increased last year, with many loans produced by CDFIs and lenders who specialize in mobile and manufactured homes. (Includes two data charts.)
The asset management firm turned non-agency loan originator continued to build its direct-to-borrower and wholesale channels in the early months of 2023.