What’s happening in the world of non-QM? Check out the Verus Mortgage Capital Blog for ideas and insights.
While there is some positivity in today’s housing market, pressure continues to be felt among mortgage lenders. According to the most recent economic forecast from the Mortgage Bankers Association (MBA), total single family mortgage originations are expected to grow to $1.8T in 2024 — up from $1.6T in 2023. The growth continues to come fromRead More
For more than a century, homeownership has been the bedrock of the American Dream. And home mortgage finance, in turn, has been contoured by the path of American history. This evolution, frequently in response to and occasionally the cause of major historic events, continues to this day with the re-emergence of the non-agency 2.0 market.Read More
Washington, D.C. – March 15, 2024 – Verus Mortgage Capital (VMC), a correspondent investor specializing in residential non-QM and investor rental programs, was the top issuer of non-agency mortgage-backed securities last year. In 2023, the non-QM sector was the largest subsector of the non-agency space representing roughly 40% of total issuance. A recent ranking byRead More
In the world of mortgage finance, closed end second lien mortgages have emerged as a valuable solution for borrowers seeking access to funds. Homeowners can use the money from their home’s equity for repairs, tuition, renovations, or debt consolidation. These mortgages are flexible and affordable. This blog post explains closed end second lien mortgages, sheddingRead More
First Non-QM Securitization Rated by Three Rating Agencies Washington, D.C. – February 7, 2023 – Verus Mortgage Capital (VMC), a correspondent investor specializing in residential non-QM and investor rental programs, was the top Non-QM issuer in 2022, maintaining its dominant position in the non-agency sector. The company financed 10 deals totaling more than $5.2 billion,Read More
Watch this short video to see why all you need is Verus to get started in Non-QM.
Watch this short video to see why all you need is Verus to get started in Non-QM.
Still Questioning if Your Company Should Originate Non-QM Loans? Verus Mortgage Capital Explains Why Now Is The Perfect Time The MBA is predicting a 9% purchase increase this year, and a 62% decrease in refinances. If that dramatic shift isn’t enough to make you turn to non-QM, consider this: Need #1: Decreasing ProfitRead More
Verus Mortgage Capital Maintains its Leadership Position in the Non-QM Sector. With $5.4 billion in securitization volume, it was the largest non-QM issuer of 2021
Over the last few months, the mortgage industry has seen a real change. While volume continues to be healthy, conventional loans’ interest rates have risen and their spreads have decreased. Now, it’s a great time for lenders to consider expanding into non-agency loans.
This video explains how to properly upload and request a non-delegated underwriting review.
Choose the Right Partner and Expand Your Loan Offerings with Non-QM The 2021 mortgage market is expected to perform well throughout the year ─ even though total mortgage volume recently fell to its lowest point in 15 months, with declines seen in both weekly purchase and refinance activity, according to the latest data from theRead More
A year since the beginning of the global pandemic, the borrower demand for Non-QM lending is higher than ever. Download this white paper to explore the current opportunity in Non-QM lending and how loan originators who prepare now will build stronger businesses in the days ahead. Click to download the Verus white paper.
Mortgage rates have increased nearly half a point since January. According to the MBA weekly survey, mortgage applications have fallen in eight of the last nine weeks. Rising rates have led to less refinancing activity. In mid-February, their share of mortgage applications dropped below 70% for the first time since October 2020. The purchase marketRead More
With $2.6 billion in securitization volume in 2020, leading non-QM issuer offers liquidity Washington, D.C. – February 22, 2021 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, announced that in 2020 it financed nearly $2.6 billion of loans across six-rated and one unrated securitization transactions. As theRead More
Washington, D.C. – October 16, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, has launched a new loan scenario tool on its website, www.verusmc.com. The scenario tool allows mortgage lenders to enter information including their borrower’s credit score, LTV, loan amount, property type and more. AllRead More
Washington, D.C. – September 22, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, has just introduced its new Prime Jumbo Program that offers low rates for high-valued homes where loan balances exceed agency limits. VMC’s Prime Jumbo Program’s features include loan amounts up to $3 million,Read More
This short video will review how to respond to conditions pre and post close.
Watch this short video for instructions on how to submit bank statements to Verus.
Leading non-QM issuer resumes investing after temporarily suspending operations at onset of pandemic Washington, D.C. – August 4, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, has begun purchasing non-QM loans again after a short pause at the beginning of the pandemic. It is actively investingRead More
In light of continued market fluctuation due to the COVID-19 pandemic and the impact it has had on the global economy, effective immediately VMC is suspending all lock and funding activity until further notice. In addition, please note the following: the purchase of any mortgage loan and the final pricing for any mortgage loan offeredRead More
There are two main steps in submitting an exception. This video will review the process to submit the request to an investor.
Recent figures reveal that an estimated 16 million Americans are self-employed, many of whom are hopeful homebuyers but may find it difficult to qualify for a mortgage without a more traditional W-2 income. What can you do to help them? Fortunately, combining bank statements with an additional source of information (or two), can be anRead More
Leading non-QM issuer closed 14th and 15th RMBS Transactions Washington, D.C. – January 6, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, finished 2019 strong. It recently finalized its 14th and 15th rated RMBS (residential mortgage-backed securities) transactions for $533.5 million andRead More
The non-QM market, predicted to rise by as much as 400% this year, continues to be an important lending channel for many mortgage bankers. Particularly when 2020 is expected to see a slight decline in originations, finding new ways to replace volume is more crucial than ever. A recent survey of loan officers found aRead More
Washington, D.C. – November 4, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, is the largest investor in the non-QM space. Verus recently closed its 13th securitization for $569.1 million. Since its first non-QM securitization in 2015, Verus’ market share has grown exponentially. InRead More
Leading and largest non-QM issuer reaches 2019 securitization volume of $2.6 billion Washington, D.C. – October 17, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has recently finalized its 12th and 13th rated RMBS (residential mortgage-backed securities) transactions for $368.9 and $569.1Read More
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
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
Conference season is upon us and it is expected that non-QM will be one of the hottest topics at shows. The non-QM market is likely to grow by as much as 400% during 2019, a year in which overall originations were predicted to be flat, highlighting their necessity in the current market environment. When scoresRead More
At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communicating that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form and corresponding datasets will not begin on July 1, 2019 as previously scheduled. Download pdf version.
Top non-QM securitizer pushes volume to approximately $4 billion Washington, D.C. – June 12, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 11th rated RMBS (residential mortgage-backed securities) transaction for $609.2 million. The transaction was comprised of 1,204 loansRead More
Washington, D.C. – June 6, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, has announced updates to its short-term business purpose that will simplify processes for lenders substantially. Verus’ expanded RTL program has several new benefits: Clarity for lenders on what the exact upfrontRead More
Largest INV transaction completed by investor Washington, D.C. – April 23, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 10th rated RMBS (residential mortgage-backed securities) transaction for $372 million. Verus 2019-INV1 was VMC’s largest investor loan transaction to dateRead More
Download this white paper to learn about the innovative loan programs in the non-QM space, what’s driving this market’s significant growth and why you should become a part of it. Click to download the Verus white paper >>
Washington, D.C. – April 19, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has just launched a new website that has been completely redesigned to improve site visitors’ overall online experience. The new website, www.verusmc.com, features a fresh, modern design and includes a blog that offersRead More
Leading correspondent investor closes second largest non-QM MBS transaction in company history. Washington, D.C. – December 19, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has completed its seventh-rated RMBS (residential mortgage-backed securities) transaction for $442 million. The transaction is the second largest in VMC history,Read More
Leading correspondent investor was the largest issuer of Non-QM/Investor loans in 2018! Washington, D.C. – February 5, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has finalized its eighth-rated RMBS (residential mortgage-backed securities) transaction for $254 million. The transaction was VMC’s fifth securitization in 2018. TheRead More
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 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
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
“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
No matter how you view it, the traditional credit box is changing. The need for responsible risk management will not change, but the traditional process of evaluating whether borrowers are creditworthy – or not – is transforming. At Verus Mortgage Capital, we often hear from lenders who don’t think that traditional lending standards are keepingRead More
Verus Mortgage Capital Finalizes $489.6 Million Non-QM MBS Transaction Fast-growing correspondent investor closes largest non-QM MBS transaction in a decade Washington, D.C. – September 5, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has completed its sixth rated RMBS (residential mortgage-backed securities) transaction for $489.6 million.Read More
Five Residential Mortgage Experts Join Verus Mortgage Capital Verus adds experienced team of specialists to expand Residential Transitional Loan (RTL) focus and other Investor programs Washington, D.C. – August 29, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has announced the addition of Ketan Parekh, JosephRead More
Washington, D.C. – August 6, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM lending solutions, announced it has made updates to its Investor Solutions loan program. Loan amounts for all four of its Investor Programs increased from $2 million to $5 million. In addition, Verus’ bank statement programs and debtRead More
Verus Mortgage Capital Increases Loan Amounts to $5 Million for Multiple Non-QM Programs Investor also raises LTVs for Interest-Only Loans Washington, D.C. – July 10, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-prime lending solutions, announced increased loan amounts to $5 million for several of its non-QM programs, and higherRead More
Washington, D.C. – April 13, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-agency lending solutions, announced it has moved its Minneapolis operations group. VMC’s new space is approximately four times larger than its previous location with the opportunity to expand its square footage in the future. The move was aRead More