Tag Archives: non QM

Impac Mortgage kicked off of NYSE American exchange, shares plunge

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The non-QM lender has kept the doors open by slashing costs and repositioning its retail consumer direct channel, CashCall Mortgage, to be a mortgage broker. Continue reading →

Defy Mortgage launches as new player in non-QM lending

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Nashville, Tennessee-based lender to serve entrepreneurs and gig workers nationwide is accepting alternative forms of income and assets including cryptocurrency. Continue reading →

Newrez returns to playbook, brings back 40-year fixed-rate mortgage

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The nonbank mortgage lender says 40-year, interest-only loans will help borrowers and investors who have been priced out of today’s housing market. Continue reading →

Kiavi says it’s still making loans to real estate investors after layoffs

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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 →

Sprout Mortgage is 2nd non-QM lender to implode in as many weeks

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Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Continue reading →

First Guaranty Mortgage cuts 76% of workforce, leaving partners in lurch

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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 →

MBA: Delaying non-qualified mortgage rule will bring uncertainty to housing

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The Mortgage Bankers Association believes that delaying the mandatory compliance date, as proposed by the Consumer Financial Protection Bureau, will not increase access to credit. Continue reading →