Wholesale Lenders Promote Non-QM, Alt-A Programs

Several wholesale mortgage lenders are now offering Non-QM programs. Other recently announced offerings include Alt-A, jumbo and nonprime programs.

Non-QM agency and hard-money mortgages are being offered by ALTRA Mortgage Capital LLC-subsidiary ALTLOAN, a news release Tuesday said. Loan amounts as high as $3 million are available for one- to four-unit properties.

Costa Mesa, California-based ALTLOAN said its offerings include prime jumbo, Alt-A and nonprime as well as investor bridge loans and fix-and-flip loans.

From:: Financing

Synnex shares fall as earnings outlook misses Street view

Synnex Corp. shares fell in the extended session Thursday after the business process services company’s earnings outlook fell short of Wall Street estimates. Synnex shares fell 8% after hours, following a 3.5% gain to close at $118.40 in the regular session. For the second fiscal quarter, Synnex estimates adjusted earnings of $2.25 to $2.35 a share on revenue of $4.58 billion to $4.78 billion. Analysts expect earnings of $2.41 a share on revenue of $4.75 billion. The company reported fiscal first-quarter net income of $24.4 million, or 61 cents a share, compared with $61.8 million, or $1.54 a share, in the year-ago period. Adjusted earnings were $2.14 a share. Revenue rose to $4.55 billion from $3.52 billion in the year-ago period. Analysts surveyed by FactSet had estimated $2.11 a share on revenue of $4.47 billion.

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