News Topic: Jumbo mortgages

The company's second-quarter net income was $116 million, with mortgage banking revenue of $239 million. ... Read full article

However, those who aren't current bank customers need to have $1 million in a qualifying account. ... Read full article

Banks will tell the Fed they would remain strong after payouts; customers would need $250,000 in liquid assets on deposit at the bank to qualify to refinance. ... Read full article

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according to research conducted by Stratmor and the Mortgage Bankers Association. ... Read full article

The digital lender rebranded its mortgage business as SoFi Home Loans about four months after it took a step back from real estate finance to redesign its processes. ... Read full article

The Swiss bank’s CEO calls the trading environment “one of the worst in recent history”; 10,000 of German bank's U.S. employees fret over their future. ... Read full article

Wells Fargo CEO tackles cost-cutting, job cuts and rumors he’ll be replaced; banks put up millions to keep uber-rich as depositors. ... Read full article

How the 'Best Banks to Work For' get employees to love their jobs; Comerica works to address fraud in prepaid benefits program; how to tell if you're banking a pot business; and more from this week's most-read stories. ... Read full article

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its ... Read full article

New investor appetite for mortgages over $1 million is motivating more nonbank lenders to offer super jumbo loans, often with weaker credit terms than traditional banks. ... Read full article

Fannie Mae and Freddie Mac enjoy considerable advantages because of their lower cost of capital and significant government subsidies. But with some conforming loans, the private market is finding a way to compete. ... Read full article

Lorie Shannon, recruited from SunTrust, will oversee a strategy that features large, non-QM mortgages in key markets. ... Read full article

As policymakers take another crack at housing finance reform, federal leaders and the housing lobby are once again perpetuating the false notion that ending government guarantees would cause the 30-year, fixed-rate mortgage to vanish. ... Read full article

Darryl White sees an opportunity for Bank of Montreal to take more market share in the United States, and he’s betting on investments in mortgage lending, commercial banking and capital markets to get there. ... Read full article

It’s a very large number for any bank, but Bank of America executives said the move makes good economic sense and promotes relationship-building with customers. ... Read full article