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June 12, 2014

‘Profitability Covenants’ Could Cause Trouble for Some Correspondents

By Paul Muolo

Correspondent sellers fret that some of the largest players might shut the door on them for a different reason: they canít deliver enough volume in an origination-challenged market.

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Poll

With rates higher this year, there has been talk of lenders liberalizing their underwriting standards in an effort to increase volume and make up for lower refis.

Do you think your shop will loosen standards over the coming three months?

Yes, but not by much.
Yes, by a lot.
Yes and, heck, we may even do non-QM lending.
No, not at all.
No and we may even tighten credit.

vote to see results