Titan Capital Solutions (TCS), a wholly owned jumbo correspondent investment subsidiary of mortgage outsource services provider Titan Lenders Corp., says it added 13 approved sellers to its correspondent jumbo program in the first quarter.
The additions represent a 20% increase in TCS approved sellers since the end of 2013, according to the company.
‘While the conforming market has slowed considerably with the rise of rates over the last few months, jumbo lending remains strong,’ says Mary Kladde, CEO of TCS.
Ruth Lee, executive vice president, adds, "As one would expect, California and Texas continue to come on strong, but we're also seeing emerging pockets of strength in New England and the Midwest."
More than 61% of newly approved TCS sellers are located in California and Texas, with an additional 15% from Massachusetts. TCS also added sellers from Kansas, Oklahoma and Utah. Furthermore, 77% of newly approved TCS sellers are independent mortgage bankers, while 23% are bank holding companies.