ResiCentral, the wholesale and non-delegated correspondent lender, has introduced two new non-qualified mortgage (Non-QM) programs — NQM Apex and NQM Optimum — and added a same-day qualifying income review process to help broker and correspondent partners determine whether a borrower's income meets program requirements before submitting a complete loan file.
The new programs are available through both ResiCentral's wholesale and non-delegated correspondent channels and expand the Non-QM lineup, which also includes the company's Select, Premier, and Elite offerings.
"Today's borrower earns differently, and that isn't an edge case anymore; it's a growing share of the market," said Brian Permutt, president of ResiCentral. "We've brought the full range of ways people document income under one roof, so our broker and correspondent partners can serve that borrower from a single source instead of piecing it together across several."
New Programs
NQM Apex is positioned as a near-prime program serving primary residences, second homes, and investment properties. Borrowers may qualify using full documentation, bank statements, profit-and-loss statements, 1099 income, asset depletion, or debt-service coverage ratio (DSCR) for investors. The program also supports investment properties on rural parcels up to 20 acres.
NQM Optimum is designed to accommodate a broader range of borrowers through several qualification paths. Its Expanded Credit tier targets borrowers who may not fit traditional agency credit standards, while its Income-Qualifying Investment option allows investment-property borrowers to qualify using documented personal income rather than rental cash flow. The program also offers DSCR financing for rental properties ranging from smaller balances to multimillion-dollar investments.
Across both programs, ResiCentral said self-employed borrowers may qualify using 12 or 24 months of bank statements, while retirees and asset-rich borrowers can qualify through asset depletion using eligible savings, investment, and retirement accounts.
The lender's new same-day qualifying income review allows broker and correspondent partners to submit income documentation for analysis and receive a qualifying income calculation before a full loan package enters underwriting. According to the company, that qualifying income determination carries through the underwriting process.
"Lending to someone who earns outside a W-2 isn't about loosening standards; it's about reading income correctly," said Darci Marshall, vice president of underwriting at ResiCentral. "Bank statements, profit-and-loss, 1099s, and asset depletion are rigorous ways to verify a borrower who is fully qualified. Our team is experienced with the files that call for a closer look, complex self-employed income and unique properties among them, and Apex and Optimum mean more of those borrowers now have a program that fits."
While alternative documentation options such as bank statements, DSCR, asset depletion, and 1099 income have become standard offerings across many lenders, competition is increasingly centered on how quickly lenders can evaluate complex borrower scenarios.
Instead of competing solely by adding another Non-QM product, lenders are looking to streamline the path from initial borrower scenario to underwriting decision.
