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.
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...
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.
In case you haven’t noticed, the yield on the benchmark 10-year Treasury was at 1.86% as IMFnews went to press compared to 1.46% in early September. That’s a difference of 40 basis points…