Former Civic Financial President William Tessar’s new business-purpose lending venture, CV3, is staffed by more than 150 employees from his former company.
Production of adjustable-rate mortgages increased by 25% from the first to the second quarter. However, the overall share of ARMs declined. (Includes data chart.)
Acra Lending updates guidelines; DBRS ready to rate securitizations of residential transition loans; Moody’s reaffirms ratings for Redwood Trust; MISMO updates implementation guide for home equity eNotes.
Lenders of non-qualified mortgages are continuing to reduce expenses through increased use of technology and adjusting compensation of certain employees.
Altisource Asset Management is considering changes to its non-agency origination business as losses pile up. Alternatives under consideration include a sharp pivot to electric vehicle charging.
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