Benchmark Mortgage is shifting its resources to retail after closing Eleven’s wholesale and correspondent operation, while brokers face questions over loans already underway
With investor loans accounting for more than a third of Non-QM production, the company is bringing leases, rent schedules, and entity documentation into its pre-underwriting platform
How lenders and brokers can test the default, challenge the findings, and preserve a workable resolution in DPA, P&L, and DSCR disputes
Court records show more than 90 loans originated through one broker using six borrower LLCs, one title agency, and two principal appraisers
Lender says about 1,000 brokers have migrated to the platform, which has cut roughly one week from part of the closing process
Investor and DSCR loans drive the segment’s growth as conforming lending loses ground
Institutional capital is fueling Non-QM’s growth, but stronger data integrity and auditable underwriting will determine which lenders endure
The Non-QM specialist will underwrite and fund California loans in-house while retaining access to more than 90 wholesale lenders across its broader footprint
The acquisition puts Kiavi’s investor-lending platform across Figure’s network of more than 480 partners as DSCR lenders compete on pricing, credit, and closing speed
The transaction would increase Velocity’s originations to approximately $4.8 billion and assets under management to roughly $10 billion