After unloading $218 million in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals “are certainly tough right now.” Continue reading
The investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market. Continue reading
Chapter 11 filing will allow the non-QM lender leeway to submit a plan of reorganization to keep its business alive and pay creditors over time. Continue reading
Non-QM lender lender lays off three-fourths of workforce, saying it’s experienced “significant operating losses and cash flow challenges” and has been unable to obtain funding. Continue reading