Skip to main content

Non-QM Is Regaining Strength Following Pandemic-Driven Pains

Director of Events
Dec 04, 2020

With companies continuing to reenter the Non-QM market, LOs and brokers can expect more robust tools and products to come.

When COVID-19 pandemic ramped up back in March, the Non-QM market took a huge hit. A few companies paused Non-QM operations but the niche market could not be kept down, nor did many expect it to disappear completely. At the end of March, Rob Chrisman, author of the daily market commentary on current mortgage events, predicted that Non-QM would bounce back but it would take a couple of months; he was right.

Following the brief hiatus, Non-QM was back into the swing of things with companies relaunching old products and even developing some new ones along the way. In his latest report, Chrisman shared a new product that has hit the Non-QM market.

“This week, ReadyPrice announced the addition of Non-QM product availability on their platform confirming Readyprice as the first Pricing and Loan Delivery technology to offer wholesale programs across all product categories,” according to Chrisman's report.

Chrisman also outlined a couple more products for the Non-QM market in his latest roundup for Mortgage News Daily.

“The industry has been waiting for non-QM products to account for a sizeable percent of the overall business,” said Chrisman in his MND roundup.

He went on to outline Carrington's Prime Advantage product, which features up to 90% LTV on Prime Advantage loans for FICOs higher than 720 and more.

With companies continuing to reenter the Non-QM market LOs and brokers can expect more robust tools and products to come.

Want more Non-QM news? We've got a newsletter for you!

About the author
Director of Events
Navi Persaud is Director of Events at NMP.
Published
Dec 04, 2020
More from
Non-QM
A&D Mortgage Updates Non-QM Loan Programs

The changes are designed to expand loan accessibility and simplify the application process.

Apr 12, 2024
Change Lending Approved For Membership In Federal Home Loan Bank Of San Francisco

Change Lending, a CDFI, obtains membership approval from FHLB-SF after meeting all statutory requirements.

Mar 13, 2024
Verus Mortgage Capital Leads Non-Agency MBS Issuance In 2023

Specialist in Non-QM and investor rental programs emerges as dominant player.

Mar 12, 2024
Angel Oak Mortgage REIT, Inc. Weathered Financial Headwinds In 2023

Despite missing non-GAAP EPS forecasts, Angel Oak grows loan portfolio, enhances liquidity, and optimizes operations.

Mar 06, 2024
dv01 Analysis Reveals Shift In Non-QM Loan Modifications

Despite decrease in loan modifications, more borrowers opt for permanent payment reductions.

Mar 06, 2024
dv01 and Fitch Ratings Collaborate On Non-Agency RMBS Benchmarks

Strategic collaboration between dv01 and Fitch Ratings introduces benchmarks aiming to enhance transparency and redefine market analysis in Non-QM and Prime Jumbo markets.

Feb 21, 2024