Non-QM
Shea Pallante, who told Sprout employees the company was closing via a conference call last July, is Arc's new chief production officer.
Industry veteran Patrick Creek to help boost Non-QM sales in Texas and points west.
Calif.-based lender praises his experience & track record in Non-QM.
Completes 8th Non-QM securitization as company rebounds to a profit in Q4.
LA-based lender says Non-QM loans available only in California; DSCR program available in 38 states.
But it does not expect the resurgence of Non-QM loans to result in an 'extensive deterioration in performance' similar to 2008.
Loans in the $227M pool were all originated by Change, a Community Development Financial Institution.
The notes are supported by 910 loans with a UPB of approximately $420.7 million acquired by Annaly Capital Management.
Reliable Holdings Manager dba Lendz chose LendingPad as its loan origination system.
Teams with Newfi to integrate digital document analysis.