A tough beginning to 2023 for non-QM lenders and securitizers? It looks that way, but the irony is that money managers, insurance companies and others continue to have a strong appetite for yield.
A new year has commenced, with originators of all sizes trying to figure out the best way to stay afloat until rates fall markedly and conditions improve. The biggest challenge, perhaps: cash burn.
Prices have come back down to earth for mortgage servicing rights, especially for Ginnie product. But what about reverse FHA-backed MSRs? Sometime this quarter GNMA will find out as it moves to resolve its legal rights regarding RMF.