Top 3 reasons why you need to consider non-QM

Quick quiz: What is one of the fastest-growing sectors in the mortgage industry? Answer: The non-QM market, potentially growing by as much as 400% in 2019. Many new entrants jumped into the non-QM space this year, highlighting the opportunity to expand product offerings and hedge against changing market conditions through non-QM lending. Still skeptical? HereRead More

Are declined conventional/agency loan applicants eligible for a non-qm loan?

While the lower interest rates have been a surprise for mortgage lenders, there are still borrowers who do not qualify for conventional loans through the agencies (Fannie Mae/Freddie Mac). But are these prospective borrowers just out of luck or is there a responsible alternative for these creditworthy applicants? Let’s examine two common situations: Self-Employed –Read More

Who are the credit “invisibles” and how can you help them?

In the years following the 2008 financial crisis, many aspiring homeowners found that lenders’ underwriting requirements had increased to such a degree that many creditworthy borrowers were finding it difficult or impossible to qualify. Just over ten years later, the underlying challenges apparently still remain. The Urban Institute recently reported that over 45 million U.S.Read More

The Skinny on Jumbo Loans

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reveals that overall home price growth continues to show signs of slowing, a good sign for homebuyers looking to break into the market. However, many metro areas posted above average price gains, and affordability in those cities is a major concern. For example, pricesRead More

Why so many loans are being rejected – and what to do about it

It certainly took some time, but a decade after the housing crisis, most analysts seem to agree that credit availability is slowly heading in the right direction. But if it seems like a large number of mortgage applications are still being rejected – many from creditworthy borrowers who simply don’t fit traditional guidelines – that’sRead More

Agency guidelines leave prospective homeowners on the sidelines

“Today’s average American home buyer is young, educated and becoming increasingly more diverse.” – Zillow There’s little doubt that the U.S. borrower base is rapidly changing and becoming more diverse. That diversity includes millennials, self-employed, investors, foreign nationals, and those with imperfect credit. Yet, despite some loosening, conventional lending guidelines have failed to keep paceRead More

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