Lenders of non-qualified mortgages are continuing to reduce expenses through increased use of technology and adjusting compensation of certain employees.
Altisource Asset Management is considering changes to its non-agency origination business as losses pile up. Alternatives under consideration include a sharp pivot to electric vehicle charging.
Without additional funding support, nonbanks don’t have options to fund servicing advances for loans that are 90 or more days past due, former Ginnie Mae President Ted Tozer said.