The firm is set to issue another non-agency MBS with proprietary reverse mortgages. In a change from its previous deal, some of the loans are “inactive.”
How do you get out of a debt bubble? Answer: Raise taxes and cut spending, something U.S. politicians have been loath to do. Or you could print more money...
The collateral is largely similar to previous deals from Starwood, though the use of additional lenders helped reduce the average seasoning time and increase the dollar volume.
The nonbank plans to hire nearly 1,400 employees by the end of the year. Several other lenders are also hiring as interest rates remain relatively low.
Quicken stands out among nonbanks rated by Moody's Investors Service. The rating service said Quicken's earnings potential is among the highest in the group.
Deer Park Road Management Company was fined for undervaluing non-agency MBS in a hedge fund. The action is aimed at discouraging artificially smooth performance reporting.