Non-QM Still Gaining Strength
Author: Ryan Smith | Date: 11/13
With non-QM lending continuing to pick up steam after a COVID-related pause earlier in the year, originators need to know what programs are available as non-QM business resumes, according to Tom Hutchens of Angel Oak Mortgage Solutions.
“It’s important to build a non-QM portfolio as an originator, because the refi boom is going to come to an end,” said Hutchens, executive vice president at Angel Oak. “What people need to know is, what are the non-QM products available today. They came back, but they came back slowly.”
Hutchens said that although the products that have returned vary from company to company, there are some relative constants.