A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
Home-equity originations rose 4.2% in the third quarter as the home-equity market opened up to nonbank lenders. Untapped HELOC commitments point to further growth to come. (Includes three data charts.)
A handful of company sales came to light this week, all involving nonbanks. The activity suggests the first quarter of 2023 could be a busy one for M&A.
Will investors be interested in buying shares in a special purpose acquisition company that houses a bank/warehouse lender and assets put together by fintech guru Mike Cagney? Maybe in “normal times,” but we’re not operating in normal times.