After more than a year of working to shift its focus, Altisource Asset Management is setting up an alternative lending group to originate and acquire non-QMs and other products.
For a flat fee of $1,000 per month, prospective homeowners can enter into equity-sharing agreements with Haus. The company also launched a blockchain-based coin offering for accredited investors.
Higher interest rates took a bite out of Angel Oak Mortgage’s profits in the fourth quarter, but its non-QM originations continue to remain strong. The firm also plans to maintain regular issuance of MBS.
The firm boosted its originations of non-QMs during the fourth quarter, though company officials suggested loan production in the first quarter could decline.
Six expanded-credit MBS hit the market in the past two weeks, including the largest deal since COVID upended the sector. Activity is much slower in the space for prime jumbos and GSE-eligible investment-property loans.
A look at the performance of investment-property loans reveals some differences between GSE-eligible loans and non-agency mortgages. Performance also differed from owner-occupied prime jumbos and non-QMs.
UWM offering bank statement mortgages; Spring EQ expands HEL guidelines; Toorak issues bridge loan securitization; non-QM impairments steady in January; new law to help with LIBOR-linked legacy deals.
The expanded-credit market got back on its feet in 2021 after being knocked down by the coronavirus. Originations were close to pre-pandemic levels and Angel Oak expects its production to double this year. (Includes data chart.)
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