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From Bloomberg: The mortgage industry is seeing its first lenders go out of business after a sudden spike in lending rates, and the wave of failures that's coming could be the worst since the housing bubble burst about 15 years ago.
Lender hopes to become one of the prominent mortgage brands under the PMG umbrella of companies
We began 2022 thinking that this might be the “Year of Non-QM.” The product certainly has its advantages for some borrowers, and lenders & investors. And then First Guaranty and Sprout vanished, and the herd of lenders was spooked, began talking about March of 2020 when some investors backed away from the market, and everyone was reminded to never have only one “take out” for a given loan or product. And then the headline yesterday: “SEC Charges Angel Oak Capital Advisors with Misleading Investors in $90 Million Fix-and-Flip Securitization.”...
HAMMOND, La., July 27, 2022 (GLOBE NEWSWIRE) -- First Guaranty Bancshares, Inc. ("First Guaranty") (NASDAQ: FGBI), the holding company for First Guaranty...
The sudden disappearance of two firms specializing in non-prime loans has given rise to uncomfortable questions