"The joint venture will provide the company's investors access to high-quality, fully documented prime jumbo assets, signaling continued institutional appetite for high-credit, non-agency jumbo mortgages."
"Sequoia's loan acquisition volume more than doubled over the past year as it gained share in the jumbo market, framing the joint venture as part of a strategy to scale its platforms."
Castlelake and Redwood Trust have established a joint venture aimed at purchasing up to $8 billion in prime jumbo mortgages. Castlelake will leverage its purchasing power for fully documented loans, while Redwood's Sequoia platform will handle sourcing and due diligence. The venture may also acquire seasoned jumbo loans from banks. This initiative reflects a strong institutional interest in high-credit, non-agency jumbo mortgages, providing stability for originators as banks reassess mortgage exposure. Sequoia's loan acquisition volume has significantly increased, indicating growth in the jumbo market.
Read at www.housingwire.com
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