Lenders of non-qualified mortgages are continuing to reduce expenses through increased use of technology and adjusting compensation of certain employees.
Altisource Asset Management is considering changes to its non-agency origination business as losses pile up. Alternatives under consideration include a sharp pivot to electric vehicle charging.
Slate of new MBS announced; A&D offers high-FICO discount on non-QMs, UWM updates jumbo program; Stellar approved for due diligence by DBRS Morningstar.
Sterling Bank and Trust leadership said they were optimistic that they will be able to move forward after paying $27.2 million in restitution to shareholders tied to fraud on a shuttered non-QM program.