Veteran loan broker Michael Foote called it, “Good marketing more than anything, but they’ll just stack the loans and then sell them as soon as the new loans can be delivered…
Keith Lind, executive chairman and president of Acra Lending, an early pioneer in the sector, echoed Pallante’s view, noting there’s a new set of investors for non-QMs.
The CEO detailed a variety of plans, from establishing asset management operations to venturing into home-equity products and expanding its footprint in business-purpose lending.
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