New non-QM MBS; Figure gains new private label partners; CFPB weighs in on TILA case; Guaranteed Rate takes full ownership of relocation mortgage specialist; AG Mortgage Investment Trust bids on Western Asset Mortgage Capital; A&D improves second-loan pricing.
Fix-and-flip properties accounted for a larger share of home sales in the first quarter than they did in late 2022. But low inventory may put the brakes back on.
After deploying new solutions for the non-QM market, Maxex has partnered with South Street Securities Holdings and Atlas Merchant Capital for a new equity investment round.
Netherlands-based Anyone.com is the latest to throw its hat into the growing shared-ownership mortgage space. Its goal is to stretch available financing to assist as many homebuyers as possible.
The Loan Store launches HELOC product; LendingPros debuts condotel financing solution; Carrington Mortgage introduces 40-year fixed-rate terms for non-QM products; RenoFi partners with TruStage for after-renovation-value HELOCs; WAMC merges with Terra Property Trust; UWM announces four new bank statement loan options.
The share of no- or sub-ratio loans in the DSCR space rose to 43.7% in the first quarter of 2023, according to DBRS. A ratio of less than 1.0 indicates monthly rent doesn’t fully cover loan payments.
The lender’s lawsuit alleges that a former account executive took private broker information from the company’s database and broke the lender’s noncompete clause.