Why are mortgage firms going bust?
"Companies have got too complacent" says president and industry veteran
Source: mpamag.com
Page 12 - First Guaranty News Today : Breaking News, Live Updates & Top Stories | Vimarsana
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Top News In First Guaranty Today - Breaking & Trending Today
Advice to brokers: "Everybody has to change their tune"
The mortgage veteran's playbook on how to survive in a troubled market
Source: mpamag.com
Non-QM Lenders Could Face Serious Headwinds
BY DOUG PAGE, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL The recent abrupt closure of two Non-QM lenders – one that shuttered its doors and another that’s now under Chapter 11 Bankruptcy protection – may have prompted Flagstar Bank’s warehouse lending division to send out a text message, saying funding advances for Non-QM mortgages will require advance approval. “Effective immediately – Funding advances for Non-QM loans targeted to the investors listed below will require approval in advance,” the text message said. “Haircuts may be adjusted.”
Source: nationalmortgageprofessional.com
Are Sprout, FGMC failures a harbinger of hard times for non-QM?
The former lender’s abrupt closure Wednesday and First Guaranty’s recent bankruptcy filing highlight difficulties in the current mortgage environment despite nonbanks being on stronger financial footing than their counterparts of 14 and 24 years ago.
Source: nationalmortgagenews.com
The Day - Are widespread layoffs coming? How the pandemic has changed employers' recession strategy
WASHINGTON — With the economy slowing, the post-pandemic surge is over for Wisconsin restaurant owner Patrick DePula and his four pizza and
Source: theday.com