By now you know the story: there are plenty of potential home buyers out there, but underwriting standards are too tight to accommodate them, so slowly but quietly ‘hard money’ lenders are on the rise. In a recent email to potential investors and other readers, nonprime lender CALCAP Financial of California noted that the average yield on its portfolio is 9.56%. As for the average LTV – it’s a very low of 53.7%.
The competitive and controversial leader, who will stay on the board, oversaw rapid growth but also a massive downsizing, and a notorious mass firing over Zoom.
The deal bolsters Zions' ability to serve multifamily customers and creates a natural extension of its affordable housing lending program, management said.
Mortgage servicers would like to shed responsibility for second liens but they may be exchanging one set of workflows for others.
The move builds on MeridianLink's lending lifecycle strategy, enabling institutions to engage with borrowers before, during and after the lending decision.
The market is bifurcated into those looking for affordable housing outside of metropolitan cores and high-end buyers prioritizing lifestyle. Still, both groups are looking south.
The agency delayed an offering of occupied units until September to ensure compliance with President Trump's executive order made earlier this year.
