Non-QM loans

NYT: Risky mortgages are making a comeback

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.”