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Fitch Ratings says non-bank mortgage companies might grapple with challenges due to subdued origination volumes and prevailing high-rate environment.
Despite the gloom, DSCR mortgages tied to investment properties stand strong, but affordability products pose future risks.
While FOA faces tangible equity erosion and continuous covenant breaches, peers like Rocket and United Wholesale Mortgage showcase resilience.
U.S. debt five times higher than it was after 2011 downgrade.
It’s guilt by association because U.S. government rating was dropped.
Ratings service says they are well-positioned to handle liquidity and funding challenges.
