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Now Is the Time
When I talk with peers about the future of the mortgage industry, I’ve noticed one theme is consistently mentioned: Urgency. The mortgage lending industry is changing rapidly. Today’s rising rate environment halted the refinance market that so many lenders have relied on to produce origination volume. What’s worse, agency loan volume won’t replace the hole left by dwindling refinances because competition for A-grade paper will be greater than ever.
If you’re a mortgage lender, you must act now or risk losing volume. Lenders who realize the urgency of the situation must read, “Now Is The Time,” a recent white paper from Angel Oak Mortgage Solutions.
As “Now Is The Time” explains, the non-QM lending market is one of the only opportunities for mortgage lenders to grow their business in the face of declining refinance activity. In fact, the potential for growth in the non-QM market is huge—the current size of the annual non-QM lending market is less than $3 billion but has the potential to reach $100 billion. Quite simply, the non-QM market offers lenders the best opportunity to grow their business.
“Now Is The Time” demonstrates how lenders can grow their business with non-QM products. It shows that closing a non-QM loan is just as easy as closing an agency loan. Lenders will also learn how to identify non-QM borrowers and convert prospects into happy clients.
As the refinance spigot runs dry, fierce competition for top-grade paper becomes greater every single day. But lenders who have already started developing non-QM referral sources have a significant head start. Simply put, lenders and loan officers failing to take steps toward adopting non-QM loans today are losing revenue to their competition. Don’t kick the can down the road. Instead, take advantage of the new revenue stream non-QM loans offer to grow your business before someone else does.
Download your copy of “Now Is The Time” today and learn how to grow your business with non-QM lending from Angel Oak Mortgage Solutions at http://SignUp.NMPMag.com/Now.
Tom Hutchens is senior vice president of sales and marketing at Angel Oak Mortgage Solutions, an Atlanta-based wholesale/correspondent lender licensed in more than 35 states and operating in the non-QM space for over three years. Tom has been in the real estate lending business for nearly 20 years. He may be reached by phone at (855) 539-4910 or e-mail [email protected].
This article originally appeared in the April 2017 print edition of National Mortgage Professional Magazine.
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