Stay updated with breaking news from Keith lind. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
Inflation is expected to continue “to decline across all horizons” over the next year while home price growth, too, is projected to decline “sharply” to the lowest level since July 2020, per a new survey from the Federal Reserve Bank of New York.
The common theme in the earnings results for both REITs is the impact of fast rising interest rates and general rate volatility on their residential mortgage holdings and operations.
The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp.
Angel Oak confronts the challenges of market volatility, fast-rising rates housingwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from housingwire.com Daily Mail and Mail on Sunday newspapers.
Non-QM lenders are racing to stay ahead of rates housingwire.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from housingwire.com Daily Mail and Mail on Sunday newspapers.
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.”