Skip to content

Real estate had been holding up well

...the largest pullback came from the jumbo and non-QM space,” said Joel Kan, an MBA economist. Non-QM are loans that fall outside the criteria for government purchase. Early last week, Wells Fargo, the nation’s largest mortgage lender by volume, temporarily suspended its purchasing of nonconforming, loans...JPMorgan Chase, another of the nation’s largest mortgage lenders, changed its underwriting guidelines.
-- Diana Olick, CNBC