And the good news? The company is once again originating (after suspending production in the spring) but only for Fannie Mae, Freddie Mac and FHA/VA products.
Two Harbors Investment Corp. said in a new SEC filing it has “removed” Thomas Siering as president and CEO effectively immediately. Few details were provided...
Until mid-month, many nonbanks were writing loans hand-over-fist, but warehouse capacity in the COVID-19 era is running low. Also, there’s a snafu at BNY Mellon.
Bill Dallas of FoAM: “Most warehouse lenders are at capacity and already ‘bulged’ most of their companies. As a result, if you need additional capacity and you didn’t plan for it, there are no new warehouse players. You are dead in the water.”