Tag Archive for: non-qm loans

Forbearances Explained; ≠ Free Lunch; Mortgage Industry In Panic Mode

The entire Mortgage Industry is in a state of panic right now. This is b/c so many potential borrowers could skip or miss payments, and b/c the Fed is pushing mortgage rates down too quickly and putting enormous financial pressure on mortgage lenders. Mortgage lenders and servicers are both facing enormous losses for a variety […]Read More

Liquidity Crisis; Non-QM Shuts Down; Extreme Market Volatility; Higher Rates

LIQUIDITY CRISIS One of the biggest issues facing our economy right now is a massive “liquidity crisis.” In simple terms this means there is far too little cash in our economy. The reasons are many and very complicated, and I list a few below. Investors are selling off assets in mass to avoid losses and […]Read More

When 6.875% Is a “Low Rate” Online Notary Service Too

ONLINE NOTARY SERVICE We learned about an online Notary service today that can notarize documents for almost anyone at any time from anywhere. This is something we will take advantage of often, and you can check them out at Notarize.com. Sadly, this service will replace many mobile notaries and signing services. This is one more […]Read More

More Condo Reminders – Non QM; Owner Occ Ratios; Condo vs. Townhome; 12 Considerations

Below are a few more reminders for condo buyers. Non-QM Loans for Condos There is a condo complex near our office that is still 25% owned by the developer. This is a deal-killer for Fannie, Freddie, FHA and Jumbo lenders. But, we have a Non-QM investor that has no issue with this. So, this is […]Read More

“Non-QM” Loans Revive Dead Deals!

LOAN OFFICER REVIVES $4 MILLION OF DEAD DEALS WITH NON-QM A loan officer I know recently called all of the Realtors in his network to tell them about “non-QM loans,” and he came away with $4 million of loans/transactions that would never have closed but for his phone calls. The Realtors thought the deals were […]Read More

“Bank Statement Loans;” Non-Agency/QM Loans; Unseasoned Credit

“Sub-prime” or “non-agency” or “non-QM” loans are surfacing again. These are for borrowers who do not meet traditional Fannie, Freddie, FHA or JUMBO Guidelines. Examples include people with unseasoned short-sales, bankruptcies and foreclosures, and self-employed people with insufficient income on their tax returns, but ample cash flow. Self-employed people can use the total deposits from […]Read More