A new $100 million credit facility with Texas Capital Bank will enable loans to be originated by a third-party, then securitized and sold to investors in non-qualified mortgages. Continue reading
A major player in correspondent lending and mortgage servicing, Pennymac is looking to provide more loans directly to consumers through a strategic partnership and investment in mortgage loan origination software provider Vesta. Continue reading
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
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
Nashville, Tennessee-based lender to serve entrepreneurs and gig workers nationwide is accepting alternative forms of income and assets including cryptocurrency. Continue reading
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
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
Failures raise questions about the viability of a small but growing corner of the mortgage business that largely serves self-employed borrowers. 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