Based on reports from non-QM lenders Angel Oak and Citadel, the third quarter was a strong one for most originators. Meanwhile, the Ditech wind-down is almost over.
Veteran stock analyst Richard Bove wonders about the accounting treatment on an increase in the “liquidation preference” that Treasury will receive from the two GSEs...
Ditech, in the coming days, expects to close on its previously announced asset sale to New Residential Investment Corp. The REIT is scheduled to purchase most of the nonbank’s servicing portfolio and what’s left of its origination platform.