Acra Lending will continue to sell its production in whole-loan form, given the dicey nature of securitizations. CEO Keith Lind said he feels fortunate to have a strong parent and “plenty” of liquidity.
What, rates have stopped rising (for now)? It looks that way, thanks to a benign CPI report. Meanwhile, some not-so-positive developments in the non-QM sector.
It’s been a tough year for non-QM shops as lenders adjust to a new rate-driven reality. Company closings appear to be picking up, but some believe the worst of it might be over. The latest to cease originations: Athas.
Mat Ishbia’s UWM now has bragging rights to being the largest home lender in the land. His view on the market: up to 15 more months of tough sledding. As for profit margins, he may have to drive them lower.
It’s been a roller coaster ride for Finance of America and its shareholders. Rising rates have hammered its business lines and it’s anticipated the company will exit the MSR arena. FoA went public just over 18 months ago.
UWM’s CEO, a former college basketball player, is contemplating making a bid on the NFL Commanders franchise. Will it come to pass? Meanwhile, one large non-QM shop is ready to make retail cuts.