Additional warehouse providers mean more choices for nonbank mortgage companies. But with mortgage rates headed north once again, will it matter all that much?
Economist and former PIMCO CEO Mohamed El-Erian says the U.S. economy is the cream of the crop in the developed world. And the prospects for housing finance are also looking up.
Mortgage originations typically decline from the second quarter to the third. This year, however, declining interest rates helped increase refinance production and prop up purchase-mortgage lending.
HPS Investments, which owns nonprime originator/servicer Acra Lending and more, is toying with an IPO. Acra is a small part of what HPS owns, but it would open up the lender to public disclosures.
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