Signs of a slow thaw in the jumbo mortgage market are lifting the spirits of some Charlotte-area mortgage lenders. With prospects for an economic recovery slowly improving, Wells Fargo & Co. recently decided to expand a jumbo mortgage program that had been limited to its retail customers. The San Francisco-based bank is now funding some jumbo loans for mortgage brokers and purchasing jumbos from other mortgage lenders. “We’ve reached a comfort level with that product,” Wells Fargo spokesman Tom Goyda says of the decision to add more jumbo loans to the bank’s portfolio.
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While many homebuilders, such as D.R. Horton and Tri Pointe Homes, significantly reduced the number of new home starts over the last quarter amid sluggish homebuyer demand, Smith Douglas Homes Corp. is taking a different approach, akin to that of Lennar. Pace over price. The builder’s strategy reflects a commitment to affordability and serving the […]
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HousingWire on Tuesday announced the launch of the HousingWire Mortgage Rankings, a new performance intelligence product designed to provide a clear, data-driven view of mortgage origination activity across the U.S. The rankings benchmark mortgage originators based on observed production, offering a standardized view of performance across geographies, loan types and channels. Historically, the mortgage industry has lacked […]