The latest non-QM player to feel the pain of the interest rate volatility afflicting the nation’s housing market this year is a Pasadena, California-based real estate investment trust called Western Asset Mortgage Capital Corp.

The REIT, which is managed by investment advisor Western Asset Management Co. LLC, recently announced that it is exploring a potential company sale or merger in the wake of posting a $22.4 million net loss for the second quarter ended June 30, — on the heels of posting a $22.2 million loss in the first quarter. WMC, with some $2.8 billion in assets, has a diverse portfolio of residential details ⇒

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