Non-QM lender Kiavi, which specializes in fix-and-flip and investor loans, has laid off 39 employees, sources told HousingWire on Thursday.

An email sent to employees on Wednesday morning said Kiavi reduced the size of the firm by about 7% “to reduce our cost structure and protect the financial health of the company.” Kiavi has more than 300 employees, according to the firm’s website. 

“We were and are still doing so well,” an employee who requested anonymity told HousingWire. “The problem is we’re not backed by the government sponsored enterprises (GSEs). Because we are in the hard money space, we don’t have details ⇒

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