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Lenders seek to serve early-career physicians with strong earning potential but unconventional underwriting profiles.
Strong servicing revenues and efficient cost-cutting measures highlighted; however, concerns raised over lack of hedging on substantial MSR investments.
OBX 2023-NQM3 Trust is a $407.5M securitization backed by 807 mostly Non-QM loans, 22% from SG Capital.
OBX 2023-NQM1 is a $405.2 million non-prime RMBS transaction.
Like refinancing a mortgage, redeeming a securitization affected by volatility of rates.
The preliminary ratings are for mortgage-backed notes, with all loans originated by NewRez LLC or Caliber Home Loans.