Titan Capital Solutions Will Buy Non-QM Loans

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, in a press release.

“Now we’re seeing the GSEs issue repurchase demands on performing loans due to minor flaws in origination, such as bad comparable selections.”

“These performing problem loans provide a significant window of opportunity for TCS to expand. Based on our operational success across the mortgage acquisitions market, we are confident TCS will provide a compelling and aggressive source of liquidity for these loans,” Kladde added.

Going forward, TCS will purchase a wide range of mortgages, including conventional loans, jumbos, non-QM loans, and other agency-ineligible loans.

While it’s not entirely clear, it sounds as if TCS will be a buyer of accidental non-QM loans, those that don’t meet the definition for one reason or another.

If you’re looking to liquidate these loans from your portfolios or warehouse lines, you can reach out to TCS via e-mail for more details (site no longer up).

TCS is a wholly-owned subsidiary of Denver-based Titan Lenders Corp. The company offers a selection of jumbo non-agency loan products on a correspondent basis, though they don’t appear to offer any non-QM loans.

Check out our growing list of non-QM lenders here.

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