Did Michael Strauss, accused of fraud, just start a new mortgage company?
After abruptly shutting down Sprout Mortgage and being accused of fraud, Strauss and his wife are linked to a new mortgage entity, Smart Rate Mortgage, LLC.
After abruptly shutting down Sprout Mortgage and being accused of fraud, Strauss and his wife are linked to a new mortgage entity, Smart Rate Mortgage, LLC.
Did Michael Strauss, accused of fraud, just start a new mortgage … HousingWire
A friend out in California asked me how much, on average, I spend on a bottle of wine. I replied, âAbout half an hour.â Plenty of wine is being consumed while watching Yellowstone and 1923, and while all the women are ogling Spencer Dutton in 1923, in some non-mortgage news to save the economy the Secretary of Homeland Security will announce next month that the Immigration and Customs Enforcement will start deporting seniors (instead of illegals) to lower Social Security and Medicare costs. A major study concluded that older people are easier to catch, offer less resistance, and, more importantly, will not remember how to get back home. In actual news, lenders who own servicing continue to peel it off because it either doesnât fit their portfolio, or they need the cash. The owners of lenders continue to examine various business strategies as we start 2023, with some thinking that it doesnât make sense to remain the size they are. There was a lot of mergers and acquisition activity last year, big and small. I am told by my M&A friends at STRATMOR (Garth & David) that 2023 is lining up for even more. (Both will be in San Diego at the IMB Conference if you want to confidentially meet up.) This weekâs podcast is sponsored by Candor. Candorâs patented automated underwriting decision engine, CogniTechâ¢, is a state-of-the-art, 100% machine platform that can handle infinite loan scenarios. Todayâs has Part Two of an interview with Tom Booker and Tom Showalter on how every underwrite is an anomaly.
The securitization provides Kiavi with additional capital to grow its funding capacity and expand its reach in the real estate investment market, the company said in its Press release. In 2022 alone, Kiavi funded a record $4.4 billion loan volume to more than 5,600 customers and has funded over $12.3 billion since its inception in … [Read more…]
Angel Oak Home Loans announces exit from retail channel HousingWire
Non-QM expert joins Deephaven Mortgage as regional VP | Mortgage Professional Specialty Non-Prime leadership in the non-QM space.” Want to stay up to date with the latest non-QM industry moves? Get well-curated articles in your inbox and always be the first to know by subscribing to our FREE daily newsletter. Free e-newsletter Our daily newsletter … [Read more…]
Annaly Capital Management continues non-QM MBS push | Mortgage Professional Specialty Non-Prime non-QM loan buying spree at the beginning of 2021 when it acquired non-QM, investment-property, and second-home loans on a conduit basis through its correspondent channel. “Most, if not the majority, of our purchases, are in the non-QM market,” explained Mike Fania, head of … [Read more…]
With mortgage rates nearly double what they used to be, you might wonder if an alternative product like a “50-year mortgage” could improve affordability. Yes, I said 50 years, thatâs not a typo. A full 20 years longer than the typical 30-year loan term most of us are used to. It’s not just a pipedream.… Read More »Could a 50-Year Fixed Mortgage Finally Solve the Affordability Crisis?
The post Could a 50-Year Fixed Mortgage Finally Solve the Affordability Crisis? appeared first on The Truth About Mortgage.
Single-family rental investors and their lenders face challenges: rent growth is slipping, vacancy rates are growing and a possible recession looms.
Defy Mortgage said it takes a âholistic approachâ to evaluating a homebuyerâs entire asset portfolio, including cryptocurrency and bitcoin.