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June 12, 2014

‘Profitability Covenants’ Could Cause Trouble for Some Correspondents

By Paul Muolo

Correspondent sellers fret that some of the largest players might shut the door on them for a different reason: they can’t deliver enough volume in an origination-challenged market.

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Poll

With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.

33%

No. It’s still difficult compliance/regulatory-wise.

20%

Maybe. It’s under consideration.

33%

Not now. But things could change as 2018 progresses.

13%