Better.com was founded in 2016 as Better Mortgage with an emphasis on loan origination technology and non-commissioned loan consultants. A few months back, the lender secured $160 million of additional financing.
Before the financial crisis, the “overwhelming majority” of non-agency MBS fell into the publicly registered category. But after the SEC issued wide-ranging changes to disclosure requirements in 2014, there has been no public issue of non-agency MBS whatsoever…
October was also unusual because the flow of VA loans into Ginnie MBS exceeded the intake of FHA loans. That’s the first month of VA supremacy over FHA since the beginning of 2017 and perhaps in Ginnie’s history.
In the same 10-Q filing, Fannie makes it clear that it does not like one bit the prohibitions the FHFA has placed on its ability to offer volume-based pricing discounts to its seller/servicers. It also chafes at the notion of “similar restrictions" and being forced to operate a cash window for small lenders...
At Sept. 30, the Charlotte-based nonbank listed cash and “cash equivalents” on its balance sheet of $50.5 million, half the figure published at Dec. 31.
So now the big question: Are nonbanks really that risky when compared to depositories? A few decades ago, Congress had to bail out the savings and loan industry to the tune of $150 billion.
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