General World News, the rare lender to post huge losses in 2021 CEO Vishal Garg

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Struggling to cope with the rising mortgage rate landscape, mortgage lender reported a loss of $303.8 million in 2021, a stark contrast to its profitable nonbank peers.

According to an amended S-4 filed by its special purpose acquisition company Aurora Acquisition Corp. with the Securities and Exchange Commission (SEC) on Monday, the earnings deterioration resulted from increasing interest rates, higher costs to support purchase loans, and investments to details ⇒

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