Five Tips To Help Non-QM Originators Navigate The End Of The Refinance Boom
Author: Tom Hutchens | Date: 10/28
We all know that the refinancing boom has kept the mortgage industry extremely busy. But a shift is on its way. On October 21, 2020, the Mortgage Bankers Association (MBA) announced that purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021 while refinance originations will decrease by almost half.
Armed with this data, now is the opportunity to start preparing your business for long-term growth today with a vital part of the mortgage landscape, non-qualified (non-QM) mortgage products.
Protect your referral network:
You’ll need your referral partners once the refinance volume slows down. Don’t potentially lose a client and risk opportunities down the line by not doing a deal today. It will get done whether you help or not, so why not be the non-QM originator who gets the deal done?