We are the oldest Non-QM lender. Since 1999, we have been doing the deals other lenders can't: ITIN, recent housing events, 1 year of tax returns only, foreign national, bank statement, no-doc. We have the experience. We have the programs. We have the pricing.
Major non-QM lender, Impac Mortgage Corp. has hired Brian Robinett as chief production officer, overseeing the performance of all of the Irvine, Calif.-based company’s lending channels.
“We expect 2020 to be a growth year for non-QM and for Impac,” said George A. Mangiaracina, Impac Mortgage chairman and CEO.
This week we caught up with Katherine Gardner, EVP and Chief Production Officer at Arc Home LLC to ask what's the most important thing right now to pay attention to in non-QM. Here's what Katherine had to say:
"Awareness, Awareness, Awareness! Similar to the importance of “location” in real estate, borrower-awareness is a major driver in the Non-QM marketplace. With a trillion dollars in borrowing power pent up due to lack of borrower-awareness, brokers and non-delegated correspondents have an incredible opportunity to lead in education and ultimately the origination of Non-QM products. The availability of Non-QM products, the ease of origination and low rates have created a No-Excuses environment for Loan Officers. Every LO with referral sources, a social media presence, a borrower database and a great lending partner, has a significant opportunity to have a record-breaking year of Non-QM originations. Partnering with a tech-savvy, customer-centric lender ensures that existing referral sources will be impressed and new referral sources will have a reason to come back. Arc Home provides the product, price, process and support to bridge any gap in an LO’s knowledge."
"...NMN Reported that Annaly Capital Management, Deephaven Mortgage, Carrington Mortgage Services, DLJ Mortgage Capital and Starwood Non-Agency Lending are each sponsoring portfolios of mostly non-QM loans with total outstanding pool balances of $1.93 billion.
That total adds to the year-to-date issuance of $1.86 billion in mortgage securities, according to MBS research from Deutsche Bank published Tuesday. The deals from January through early February included those placed by originators and loan aggregators such as NewRez, Angel Oak Capital Advisors, Caliber Home Loans, Invictus Capital Partners and Seer Capital Management. ..."
Each issue shares the news and views related to the emerging non-QM space. Yes, we feature nmp content, however, we often include links to other publications and resources to help mortgage professionals that are focusing on non-QM or are looking to expand their non-QM practice.
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