No one ever said becoming a public company was easy, but a new public filing related to Better.com’s plans reveals some of the roadblocks that lie ahead. Will investors take note?
The Downpayment Toward Equity Act, sponsored by Sen. Raphael Warnock, D-GA, would grant up to $25,000 in assistance to first-generation homebuyers. Its fate, though, depends on the final size of the Build Back Better Act.
The decline in mortgage origination from the first to the second quarter hit nonbanks harder, but the industry still accounted for 70% of production by the top 100 lenders. (Includes two data charts.)
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.”