loanDepot, one of the nation’s largest nonbank home lenders, has come to market with a $300 million warehouse-related securitization for its Mello digital lending division. Three of the deal’s five tranches have received ratings from Moody’s Investors Service. The other two were not rated.
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."
Eric Kaplan of the Milken Institute: “I don’t think the non-agency market is ready to absorb the market that’s taken away from the GSEs without some significant signaling in advance.”