After unloading $218 million in unrated residential transaction loans in June, CEO Michael Bourque said markets for such deals “are certainly tough right now.” Source:…
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The investment management firm acquired nonbank mortgage lender First Guaranty Mortgage as part of broader strategy to serve lower end of market. Source: Inman News
Chapter 11 filing will allow the non-QM lender leeway to submit a plan of reorganization to keep its business alive and pay creditors over time. …
Non-QM lender lender lays off three-fourths of workforce, saying it’s experienced “significant operating losses and cash flow challenges” and has been unable to obtain funding. …