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Non-QM’s Comeback Isn’t Slowing Down

One of the first apparent mortgage-market casualties of the COVID-19 pandemic was non-QM lending, with many lenders halting originations as the economic impacts of the outbreak made themselves felt. However, non-QM is already making a comeback – and much faster than expected, according to one expert.

“We’re going to have a pretty good July in the non-QM world,” Tom Hutchens, executive vice president of Angel Oak Mortgage Solutions, told MPA. “Activity isn’t pre-COVID yet, but it’s a lot better than we anticipated this soon.”

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