Industry participants looking to originate non-qualified mortgages or acquire the loans continue to insist that the relatively low volume of such loans is due to a lack of effort from lenders. “It’s not that the non-QM space is competing for borrowers that are getting loans elsewhere, it’s that the non-QM space is competing for origination capacity at existing originators,” said Matt Nichols, CEO of Deephaven Mortgage. Many have placed...
Renzi joined Walter this past fall with a pay package that could top $5 million in his first year at the helm. He previously held senior positions at Citigroup and Freddie Mac.
But there’s also the case of certain nonbank lenders that are affiliated with homebuilding firms. In some cases, these mortgage professionals can earn as little as 35 bps per loan originated.
Executive departures continue to plague due diligence provider Clayton Holdings and now there’s talk that its parent company, Radian Group, is contemplating taking a goodwill charge on a subsidiary it paid $305 million for two years ago. The latest top-level officials to leave the unit include Capital Markets Senior Managing Director Brian Wornow and Mark Hughes, executive vice president in charge of sales and marketing. Sources close to Wornow contend...
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