During the company’s recent income statement, Annaly announced that it has begun acquiring non-QM loans as well as investment property and resale loans through its new correspondent channel.
When asked about the benefits of opening a channel, Fania replied, “Launching a correspondent channel allows you to fight smaller senders. And the ability to commit maximum effort allows you to own the loan economy at a much more attractive price than if you were in the wholesale or mini-wholesale market. “
Annaly CEO David Finkelstein added that the channel “provides confidence in senders’ performance, a service they value.”
Prior to this, Annaly received non-QM loans primarily from aggregators rather than directly from lenders.