The New York City-based REIT will pay $120 million in cash for national non-Qualified Mortgage lender HomeXpress Mortgage Corp., plus 2.08 million shares in Chimera valued at $27.9 million. Continue reading
Deal gives the nation’s biggest provider of riskier “non-QM” mortgages additional capacity to offer more traditional loans backed by Fannie and Freddie, FHA, VA and USDA. Continue reading
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. Continue reading