Waiting for the Federal Reserve to cut interest rates is a bit like waiting for Godot. It seems as though a cut in rates may never come. Still, there is some improvement in volumes and margins in the non-QM sector.
These are trying times for most home lenders, thanks to a weak origination market. What to do? Keep trimming staff or tough it out? Meanwhile, some experts believe executives should start cutting their own pay.
“The producers move over to a new firm and that’s it — that’s the M&A activity,” said David Fleig, who runs MorVest Capital, a servicing advisory firm.