“Expansive datasets about people’s social connections, the kinds of websites they visit, where they shop and how they talk do not have the same simple intuitive connection to each individual’s ability to repay a loan,” said Aaron Rieke, managing director at Upturn...
Fannie/Freddie "noncore" loans include conforming jumbos, mortgages with debt-to-income ratios greater than 43%, investor loans/second properties and cash-out refinances...
In a new report to its shareholders, Fairholme Capital Management notes the fund it manages owns a 4% position in the preferred shares of Freddie, “which currently trade at less than half of stated liquidation values, implying potential current yields of over 14% per annum.”
Large nonbanks the likes of UWM, Quicken and loanDepot are hiring but overall, the mortgage employment figures for June were not particularly strong...
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