LoanStream Mortgage Opens Up Liquidity For Non-QM Market

Navi Persaud

Jul 06, 2020

LoanStream Mortgage expanded its product offerings to provide an alternative for non-QM borrowers. Non-QM loans are more difficult to come by as non-agency lenders were hit hard by the COVID-19 pandemic's economic effect.

"We were one of the first to provide financing back in 2013. We continue to be committed to the non-QM space," said LoanStream's CEO Rabi Aziz. "Things have changed; that's for sure. The number of loans in forbearance, companies stuck with old product, and challenges related to warehouse financing will plague the space for a while."

According to a release, the company expanded some of its programs including Loan to Value up 85%, Debt Service Coverage Rate LTV's to 80%, credit scores down to 640 and loans of up to $3 million.

These offerings have been released through the company's wholesale, correspondent and retail channels. All loans are also underwritten and decided in-house.

Link copied

Published

Jul 06, 2020

Analysis and Data

Fed Rate Hike Doesn’t Alter Redfin’s Spring Housing Outlook

Says spring home-sale season starts with steady demand, but lack of listings holds back sales.

Last week’s decision by the Federal Reserve to modestly hike interest rates, and that they may pause them sooner than anticipated, brought mortgage rates down for the second week in a row, according to a new report from Redfin. The Seattle-based technology-powered real esta...

People On The Move

CBC Mortgage Agency Hires Capital Markets Director

Mark Leslie has 22 years of experience as a mortgage trader.

CBC Mortgage Agency, a nationally chartered housing finance agency based in Cedar City, Utah, said Monday it has hired Mark Leslie as director of capital markets. Mark LeslieLeslie has spent more than two decades as a mortgage trader, including s...