The acquisition will help expand Western Alliance Bank's warehouse lending efforts.

Caliber is worried that if interest rates rise from current levels, the volume of prepayments and mortgage payoffs is likely to decline, which will reduce the cash available to fund servicing-advance obligations.

The 10-year Treasury currently is offering a yield of 0.77%, the highest reading since early June…

Imperial Fund, an asset management company, is affiliated with A&D, a non-QM lender.