Nierenberg, a former Bear Stearns executive, stressed that New Residential is going to be relatively conservative with its underwriting standards for non-QMs.
Stan Kurland: “We expect to see consolidation in the mortgage market, and successful firms will be the ones that have the size, scale and technological capabilities to compete."
The fix-and-flip financing market saw a big upswing following the housing market collapse, when there was a bounty of properties for sale at bargain prices. Since then, the market has normalized. But experts speaking on a panel at the Residential Mortgage Finance Symposium sponsored by the Structured Finance Industry Group this week in New York say fix-and-flip financing still holds a lot of promise for lenders willing to learn its fine points. Dash Robinson, president of Redwood Trust ...