PIMCO Back Bidding on Non-QMs. Did It Ever Leave?
Inside Mortgage Finance, Sept. 13, 2022–Paul Muolo (subscription)
Ever since the July collapse of its residential lending affiliate First Guaranty Mortgage Corp., PIMCO has taken a less active role as a bidder on non-qualified product. But now that the smoke is starting to clear from the market, the word on the street is that the bond-investing giant is back in town. Well, sort of.