Fix-and-flip lending recovered in 2021 from a pandemic-led slowdown the previous year. Originations of short-term loans shot up nearly 75% on an annual basis. (Includes data chart.)
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Are secondary market non-QM buyers getting choosier about the paper they buy in a rising interest rate environment? In some cases, the answer is yes. Then again, who can blame them.
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Bank and thrift holdings of first-lien mortgages increased in the first quarter of 2022. Meanwhile, Wells Fargo and JPMorgan trimmed their portfolios. (Includes data chart.)
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Turmoil in the secondary market regarding prices paid for expanded-credit loans may be feeding job cuts at Sprout Mortgage. It’s hard to say, though. The New York-based company is keeping a low profile.
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FoA, which has been creeping into the expanded-credit sector in recent years, including fix-and-flip loans, is looking for a new CEO. The company became a public entity roughly 15 months ago.
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The California bank joins the growing ranks of lenders offering innovative home-equity products to help borrowers counter rising interest rates.
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What does the CEO of a publicly traded fix-and-flip lender earn? About $1 million a year in pay and stock. Then again, there’s only one such firm: Sachem.
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