The Letter X – Issue #43
So, you’re interested in originating non-QM loans. Picking the right non-QM partner does matter so where do you start? Ask yourself these 6 questions to ensure you’re making the right choice for your mortgage business:
Are they focused on non-QM?
The lender should make non-QM their primary focus, not a secondary service.
Do they offer useful technology options?
They should utilize efficient technology and have strong processes in place to create a smooth customer experience.
Do they provide a full line-up of non-QM options?
Such as: Bank Statement, Jumbo, No Income Investor Cash Flow, Asset Qualifier, and an option for borrowers with credit events. This will show they understand the full range of options that non-QM loans can provide for borrowers.
Do they offer competitive rates?
Non-QM is changing quickly and being in-touch with capital markets allows the lender to stay competitive.
Do they focus on your growth by offering abundant resources? A dedicated non-QM lender will go so far as to present on your behalf at meetings with real estate agents or other partners. You want to work with someone who wants to help you grow.
An excellent example is this webinar that Angel Oak recently hosted.
Finally, their non-QM experience.
Look for a team of operations and account executives with years of non-QM experience. Wouldn’t you rather work with someone who has looked at 10,000 deals rather than just 10?
Contact Angel Oak to learn more about its services and how we can help you grow your non-QM business the right way.