Are You Prepared For The End Of The Refi Boom?
Author: Ryan Smith | Date: 10/14
With non-QM coming back in a big way, it’s more important than ever for originators to add it to their toolbox – especially before the refi boom ends, according to Angel Oak Mortgage Solutions’ Tom Hutchens.
“We’re in these record refi times, but the more loan officers that we talk to, the more it’s apparent that they all know it’s going to come to an end,” Hutchens told MPA. “Rates tweak up an eighth of a point, and that refi boom is going away.”
That’s why it’s important for originators to have a wide variety of purchase products in their arsenal – including non-QM, Hutchens said.