Over the last year, the nation’s largest banks, spooked by surging rates and increased regulatory risks, have shied away from the jumbo mortgage market. A select group of regional bank challengers have suffered a worse fate: dead, sometimes directly because of their own calamitous jumbo strategies. And to compound matters, Wells Fargo, the biggest lender in the space, has exited the correspondent channel, which has resulted in pricing nightmares for bankers at hundreds of smaller lenders. 

It’s not pretty, and it won’t be getting better details ⇒

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