The recent IPO of nonprime lender Velocity Financial should pave the way for other like-minded deals. Right? But not so fast. The stock market can be an unforgiving place.
Conventional nonbank lender/servicers have been closed out of the IPO market for several years now. But if you fall into the nonprime category, it’s a different picture. Velocity is about to test the stock market waters.
Analysts say homeowners are sitting on $6.2 trillion of home equity that could be converted to cash. But for many, refinancing is a better choice than a HELOC. (Includes three data charts.)
The banks are testing an incentive payment mortgage servicing compensation structure for certain non-agency deals. The move aims to align expenses and revenues for servicers faced with delinquent loans.
The non-QM market has been so hot this year that M&A activity is beginning to pick up a head of steam. Luxury Mortgage is the latest lender to pull the sale ripcord. There could be more.
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