Since the Qualified Mortgage rule came into existence in early 2014, non-QM lending has been slow going. Sure, only two years have passed since non-QM was even able to be a thing, but it doesn’t appear to be growing by leaps and bounds, or even just leaps (or just bounds). Yes, the list of non-QM… Continue reading Is Non-QM Lending Already Losing Steam?
Last week, Denver, Colorado-based correspondent investor Titan Capital Solutions (TCS) announced that it would begin purchasing “scratch and dent” loans from approved sellers. In the past, TCS only purchased jumbo loans from its selling partners. “Historically, ‘scratch and dent’ referred to loans with egregious errors in underwriting or compliance,” said Mary Kladde, CEO of TCS,… Continue reading Titan Capital Solutions Will Buy Non-QM Loans
It has been a minute (or two) since I last posted about non-QM loans, but some interesting news landed on my desk this morning. A new mortgage insurance company has been created specifically to handle credit risk on non-agency home loans. Today, Arch MI announced the launch of Arch Mortgage Guaranty Company, or “AMG,” created… Continue reading Mortgage Insurer Launched to Provide Insurance on Non-QM Loans
A new survey from the Federal Reserve and the Conference of State Bank Supervisors (CSBS) revealed that the majority of community banks are already originating non-QM loans. This is somewhat surprising, given they’ve only recently come into existence, along with the uncertainty regarding liability. Still, 26% of survey respondents indicated that they were indeed making… Continue reading 64% of Community Banks Are Currently Originating Non-QM Loans
It’s still pretty early days for the Qualified Mortgage rule, but a new survey from Fannie Mae revealed that most lenders don’t plan to take part in non-QM lending. Overall, 80% of respondents indicated to Fannie Mae that they “do not plan to pursue non-QM loans” or would simply “wait and see.” If you break… Continue reading Only About a Fifth of Lenders Plan to Originate Non-QM Loans
This week, the Consumer Financial Protection Bureau announced adjustments to the max points and fees that can be charged on QM loans. In short, banks and mortgage lenders will be able to charge a little bit more and still stay within the QM realm next year. This is the first of what will be ongoing… Continue reading CFPB Announces QM Points and Fees Adjustments for 2015
We’re pretty excited about non-QM lending over here, but because it’s so new, it’s very difficult to determine how big it might become one day. For the record, the QM rules went into effect in January of this year, so it’s still early, early days. However, Deutsche Bank analysts already threw out some numbers regarding… Continue reading Just How Big Will Non-QM Lending Be?
Does your bank or lender offer non-QM loans? If so, we’d like to hear from you ASAP. We know this niche is in its infancy, but we’re already aware of dozens of existing non-QM loan products and would like to know about all of them. Please send an e-mail to: help@nonqmloans (dot com) to share… Continue reading Attention Non-QM Lenders!
Welcome to the just launched NonQMLoans.com website. This site is brand new, just like QM and non-QM lending, which came into existence in early January 2014. It’s supposed to change the mortgage industry as we know it, so we’ll do our best to document history as it’s made. Hopefully things aren’t too rocky… In the… Continue reading Welcome to the Non-QM Loan Universe