We have said this many times before – choose the right non-QM lender. Now that more and more lenders are coming out with their own non-QM products it is even more important. Selecting a lender with a proven track record in non-QM ensures efficiency and originating quality loans. Is your lender of choice the end investor for the loan? If the answer is no, think of that in terms of efficiency. Angel Oak is the end investor eliminating the need to send the loan for sign-off. We only do non-QM making it our only priority. Other lenders focus on agency business and they carry non-QM simply to say they offer the option. Do not put your non-QM borrower in the hands of anyone but a leader in the space.
Mortgage Professional America has a very informative article on how imperative it is to work with a non-QM lender and features Angel Oak’s Tom Hutchens our executive vice president of production. Check it out below:
Originators should choose non-QM partners wisely
by Ryan Smith
As the non-QM space gains popularity, more and more lenders are introducing non-QM products of their own. But not all non-QM lenders are created equal, and originators should pick their lender partners with care.
“I get emails from companies I’ve never even heard of claiming to be non-QM experts,” said Tom Hutchens, executive vice president of production for Angel Oak Mortgage Solutions. “My concern is that with this many players getting into the space, I’m not sure that they’re all as concerned with originating quality non-QM loans.”
Hutchens said that no two lenders are the same – and a lender with a great track record with other loan types isn’t necessarily prepared to tackle the non-QM space.
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