Items Tagged with 'Non-QM loans'

ARTICLES

  • Plaza Home Mortgage rolls out new high-balance mortgage program

    Designed to "bridge the gap" between conventional and jumbo loans
    Plaza Home Mortgage, which recently expanded its non-QM lending program to "allow brokers and correspondent lenders to qualify more non-traditional borrowers," is expanding its mortgage offerings again. The California-based lender announced this week that it is rolling out a new high-balance loan program that mimics the "high cost" loan amounts established by Fannie Mae, Freddie Mac, and the FHA.
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  • [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    The industry should pay attention to bipartisan legislation that would permit lenders to move away from outdated, static requirements and instead document borrower income and debt through the government-approved methodologies already in place in the GSE guides or the FHA,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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  • NYT: Risky mortgages are making a comeback

    Warns borrowers to beware of these "complicated" loans
    With the housing market slowing down and interest rates rising, mortgage lenders are feeling the pinch. To boost profits, some have turned to non-QM loans, according to a recent article in The New York Times. These loans do work for some homebuyers, the author says, but he warns that "even qualified borrowers need to be aware of the loans’ risks."
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  • Executive Conversation: Daniel Perl on the resurrection of the non-prime market

    Citadel Servicing Corp. offers sound lending programs and full vertical seamless integration
    Dan Perl, CEO of Citadel Servicing Corp., talks about the opportunities presented by non-prime loans in our latest Executive Conversation. "Non-prime offers a viable alternative to penetrate a market that has been insufficiently mined for the past 10 years. Additionally, it is a loan product that has not become a commodity so there is room to gain market recognition in addition to the profit motive."
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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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