The non-agency market hasn’t lived up to the hype, according to Mat Ishbia of United Wholesale Mortgage, which saw a drop in non-agency lending. The overall sector, meanwhile, saw higher production and gained market share in the second quarter.
Impac could be delisted; UWM offering HELOCS, including a piggyback option; Redwood “above average,” says Moody’s; CrossCountry launches bridge offering; Singapore-based lender offering jumbos in the U.S. with balances of up to $150 million for overseas investors.
The Southfield, MI-based bank expects fixed-cost savings of roughly $3 million a year from using MortgagePath for originations and the vendor will be responsible for compliance issues.
Reali to close and hopes to sell its mortgage origination business; Sun West Mortgage launches cash-offer product with NFT component; delinquencies increase in July; Blend offers home-equity lending product; Fitch confident home prices won’t crash like in 2008; Staircase offers new origination tech.
Prepayments on student loan ABS could spike amid debt forgiveness; Annaly sells stock; the Erbey-Altisource-PIMCO connection; commercial MBS at risk with potential bankruptcy of Regal Cinemas owner.
Based on insider information about a then-undisclosed data breach at Equifax, Lawrence Palmer and Jerrold Palmer through accomplices had shorted shares of the company.