According to court filings, Wachovia Capital Markets, which served as one of the underwriters and book-runners for the NovaStar deals, provided investors with misleading statements in its SEC registrations and offering documents.
Varde partnered with Deephaven in 2014 to help fuel the lender's origination of non-QM loans. Pretium is a signficant player in the single-family rental market. Last fall the firm agreed to buy specialty servicer Selene Holdings from Lew Ranieri and his partners.
Quicken Loans signed a $32.5 million agreement with the federal government to settle FHA underwriting allegations that accused the nation’s largest direct lender with fraud. As part of the deal, the privately held nonbank – the creation of Midwestern businessman Dan Gilbert – did not admit any wrongdoing and will continue to originate and service FHA loans…
The collateral consists of 1,732 seasoned performing HELOCs totaling $277.7 million of outstanding draws. The lines have seasoned for an average of 5.5 years...
According to Craig Knutson of mortgage REIT MFA, yields on non-qualified mortgages are currently around 5% while yields on fix-and-flip loans are around 7%. Which would you choose?
It was the weakest reading on home-equity originations since early 2015, when production of closed-end seconds and new borrowing on home-equity lines of credit totaled an estimated $38.0 billion.
Issuers say they receive better execution on GSE-eligible investment-property loans in the non-agency market rather than delivering the collateral directly to Fannie and Freddie...
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