Articles Tagged with ''non-QM lending''

[Pulse] We must improve the QM standard, and this is why

With the GSE patch set to expire in less than 2 years, we need reforms that will even the playing field
The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA, VA, and USDA handbooks.
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Angel Oak plots expansion in non-QM correspondent lending

Brings on four new executives to lead growth effort
Angel Oak Companies, an investment management firm that focuses on mortgage credit and made its name providing residential mortgages that don’t fit into the Qualified Mortgage box, has grown its business significantly over the last several years. And now, the company is set to grow again. Angel Oak announced this week that it is planning an expansion of its correspondent lending channel.
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PIMCO hits secondary market with first non-QM mortgage bond offering

$382.45 million deal contains loans originated by Capital One
PIMCO, once a major player in the secondary mortgage market, is making a new mortgage play, as the bond giant is about to enter the secondary market for loans that don’t fit into the Qualified Mortgage box with a $382.45 million mortgage bond offering backed by loans originated by Capital One.
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Non-QM lending on the rise with two more lenders expanding their offerings

NewRez and LoanStream Mortgage increase non-QM presence
Borrowers who do not fit into the Qualified Mortgage box now have an increasing number of options when it comes to finding a lender willing to help them buy a home. Recently, New American Funding and Plaza Home Mortgage increased their offerings and expanded into non-QM lending. Now, two more lenders are increasing their presence in the non-QM lending space: NewRez and LoanStream Mortgage.
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New American Funding expands into non-QM lending

Will use "alternate methods of income verification"
One of the top lenders in the country is now offering mortgages to borrowers who do not fit into the Qualified Mortgage box. New American Funding announced Tuesday that it is expanding into non-QM lending, joining a growing group of lenders that are offering mortgages to "non-traditional" borrowers.
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Plaza Home Mortgage expands non-QM lending for mortgage brokers

Now offers “flexible income documentation” requirements
Mortgage brokers and correspondent lenders now have expanded options when it comes to lending to borrowers who don’t fit into the Qualified Mortgage box. Plaza Home Mortgage announced this week that it is rolling out an expanded non-QM lending program to “allow brokers and correspondent lenders to qualify more non-traditional borrowers.”
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Home Point Financial launches non-agency product suite

Home Point Edge will offer non-QM loans to help underserved borrowers
Home Point Financial is now offering non-agency mortgage loans. The Michigan-based lender and servicer said its new Home Point Edge suite of products is designed to help borrowers who are credit-worthy but underserved by traditional agency and prime jumbo products.
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LoanStream Mortgage plots expansion, plans 30-state hiring spree

California lender offers traditional, non-QM loans
LoanStream Mortgage, a California-based mortgage lender that specializes in wholesale lending through mortgage brokers and consumer direct lending through a series of branches, is planning a serious nationwide expansion. The company announced Tuesday that it is plotting a 30-state expansion and plans to hire a boatload of mortgage professionals to lead that growth.
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Impac partners with Starwood Property Trust to significantly boost non-QM lending

Deal will see Starwood securitize non-QM loans originated by Impac
Over the last few years, Impac Mortgage Holdings has grown its lending to borrowers who don’t fit into the Qualified Mortgage box, but now, the lender is positioned to significantly increase its non-QM lending thanks to a new partnership with one of the nation’s largest mortgage real estate investment trusts.
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Q&A: LoanScoreCard’s Ben Wu on the rise of non-QM lending

Lending outside of the qualified mortgage box
In a Q&A with HousingWire, Ben Wu, executive director of LoanScorecard, discusses the recent surge in non-agency/non-QM mortgage lending, the challenges in that market and how technology can be utilized to help lenders with these challenges. As Wu points out, “With more than 20 million sole proprietors in the U.S., there is pent-up demand for mortgage product that can accept income documentation other than the 'Appendix Q' requirement of QM loans.”
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