Why Choosing The Right Non-QM Lender Matters
By Steven Winokur
Chief Marketing Officer, Angel Oak
Does it matter which non-QM lender you go with? Oh yes it does.
You’ve made the decision to learn more about non-QM because you understand more borrowers need it today to qualify for a loan. Now what? Chances are you’ve read a lot about non-QM in mortgage industry news, seen catchy ads, and your phone plus email have been blown up from people claiming to be non-QM experts. What about that AE that brought you doughnuts that one time? Admittedly, doughnuts are tough to follow. However, there is something to keep in mind before you just jump in with any lender – your reputation!
Your reputation is at stake when you broker a loan, especially a non-QM loan. Why? Many times, these borrowers have already been turned away by another lender and are victims of Agency fall-out. The real estate agent is frustrated, the borrower is stressed, and they need someone to save the day. You don’t need to go back with any further delays or bad news. This is why it is imperative to work with an expert and leader in non-QM.