As a member of the Forbes Real Estate Council, I recently wrote about the tremendous future of non-QM lending and I believe my readers of my column in National Mortgage Professional Magazine may benefit from the insights I shared with the Forbes readers. Having witnessed non-QM’s evolution as a safe alternative to sub-prime, I know how visionary leaders built from scratch this credible and reliable industry segment.
Approaching 2020, the proven benefits for borrowers, lenders, investors and originators will grow and the non-QM market will support the long-term health of the mortgage industry. However, the continued success of non-QM products requires originators to choose wisely from among the expanding number of wholesalers entering the marketplace and the loan products they have to offer.
Originators need the right partners and the right approaches. Week after week, new lenders and wholesalers are popping up to cash in on the non-QM sector’s growth. Originators should not assume that each one of them has the knowledge, experience and technical resources necessary to assure smooth and transparent loan processing and customer satisfaction.