Two nonbanks are trading accusations tied to the pilfering of staff, at least that’s how it started. Eventually, the case could be settled out of court but not before some damaging allegations get aired in public.
What will separate the men from the boys and the women from the girls in 2022? Purchase-lending and non-QMs. At least that’s what some executives we spoke to believe.
One might think the mortgage SPAC thing has run its course. Maybe for lenders, but what about mortgage and real estate-related software? For star power, there’s Dave Winfield.
Nonbanks remained the driving force in first-lien originations, accounting for 68.4% of aggregate production by the top 100 lenders. (Includes two data charts.)
Faced with a not-so-welcoming IPO market earlier this year, AmeriHome and Caliber Home Loans did the next best thing: The two public-bound nonbanks found willing buyers to pay a decent price. Should Better.com do the same?
Federal regulators provided status updates on several current and pending mortgage-related rulemaking initiatives. But revisions to the qualified-mortgage standards were missing from the CFPB’s agenda.
Better.com’s dream of becoming a public company is on shaky ground these days. Events of the past week include a large layoff conducted over Zoom and the CEO apologizing after making disparaging remarks about those he cut.