Despite a tepid improvement in whole-loan prices being paid for non-QM mortgages, yet another non-QM operator has closed its doors: Cypress Mortgage. It was barely four months old.
Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?