The industry dodged a meltdown, but skyrocketing mortgage rates fueled a rush to 'right size' and helped crown a new leader in mortgage lending
Chapter 11 filing will allow the non-QM lender leeway to submit a plan of reorganization to keep its business alive and pay creditors over time
Non-QM lender fires three-quarters of its workforce, saying it's experienced 'significant operating losses and cash flow challenges' and has been unable to obtain funding