The future looks particularly bright these days for non-qualified-mortgage shops looking to sell or go public. One lender that can take down the for-sale sign is Citadel Servicing Corp.
Loan applications took a dive last week but for the most part lenders remain optimistic about the months ahead. Meanwhile, a fintech lender plans to buy a bank, an industry first.
The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place.
Conventional nonbank lender/servicers have been closed out of the IPO market for several years now. But if you fall into the nonprime category, it’s a different picture. Velocity is about to test the stock market waters.
Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)
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