National Mortgage Professional featured Angel Oak’s Tom Hutchens in a recent article on non-QM. We know a lot about the subject being the company that launched the resurgance of non-QM. We have been educating the industry on the benefits of using and HOW to use for many years now. So it makes sense that when there are questions about where it stands today, people come to us for answers. Tom addresses non-QM, where it stands today and why it’s key to grow your business.
The New Way To Do Non-QM
According to Hutchens, the executive vice president of production at Atlanta-based Angel Oak Mortgage Solutions, the non-QM sector represents a bold new opportunity for originators, with the potential to grow from $20 billion to $300 billion over the next several years. This marks quite a difference from the aftermath of the Great Recession, when non-QM was the mortgage equivalent of an epithet.
“It is easier to grow fast when you start at a low base,” Hutchens told National Mortgage Professional, who admitted that many careless originators created a Wild West approach to non-QM lending before the 2008 meltdown. “After the crisis, volume went to zero virtually overnight.”