In regard to underwriting shortcuts, loanDepot said it did nothing wrong, but the nation’s sixth-largest home lender’s counterparties may need some reassurances. One observer called a lawsuit filed against the company a legal “nightmare.”
Treasury Secretary Janet Yellen and others warn of catastrophic economic consequences if the government fails to raise or suspend the debt ceiling before the middle of October.
Keith Lind, executive chairman and president of Acra Lending, an early pioneer in the sector, echoed Pallante’s view, noting there’s a new set of investors for non-QMs.
According to CFPB researchers, renters typically face more financial vulnerability than homeowners and hence had more to gain from some pandemic relief efforts than mortgagors.
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