Non-QM

In the nearly $346 million RMBS transaction, 58% of the loans are categorized as Non-QM.

Major warehouse lender placing restrictions on funding advances.

The notes are supported by 527 newly originated loans that have a balance of $272.4 million; 69.4% of the loans in the pool are designated as Non-QM,

Lawsuit seeking class action status names Sprout, CEO, and affiliate Recovco Mortgage Management as defendants.

Michael Strauss abruptly ended negotiations with Citibank on financing that might have kept Sprout open.

Non-QM lender was doing $380M/month in loan volume, former executive says.

Continues westward expansion as company grows to 47 branches.

The $387.9 million non-prime RMBS transaction is characterized by a notable concentration of alternative income documentation (87.7%).

In a blog post, Rohit Chopra says the goal is to “more clearly communicate the agency’s expectations.”

Of the loans in the pool of 673 loans with a balance of approximately $357.4 million, 54.5% are designated as Non-QM.