3 Unique Non-QM Mortgage Types for Brokers

by | Mar 29, 2024 | News

Deephaven Mortgage’s Chief Sales Officer Tom Davis is featured in HousingWire discussing the Non-QM mortgage products most crucial to offer in today’s market. Make sure you have the right loan products to offer your borrowers instead of sending them to the competition. 

Offering Non-QM products including a closed end second mortgage will set you apart from your competitors, allow you to tap into new referral contacts, and gives you the tools to increase your volume closing loans for a larger pool of borrowers. 

Read the article and find out if you have the right loan products to serve real estate investors, self-employed borrowers and homeowners who need a non-QM closed end second mortgage.

3 Unique Mortgage Products To Get Today’s Homebuyer Qualified

Today’s market means that more borrowers have higher debt-to-income ratios, limited access to credit and are looking for alternative ways to get qualified for a mortgage. Tom Davis, chief sales officer at Deephaven Mortgage, offers information about products that can get borrowers qualified and goes into some of the trends he’s seeing in the market today in this executive conversation.

What factors are contributing to borrowers falling out of the Agency market?

The main issue with fall-out scenarios is that the government sponsored enterprises (GSEs) have a tighter box with underwriting standards. Due to the requirements under the QM Rule set forth by the Consumer Financial Protection Bureau (CFPB), certain borrowers have limited access to credit and to alternative ways to qualify for income. Specific factors include higher debt-to-income ratios, self-employed borrowers who can’t qualify using tax returns, less than seven years out of a credit event such as a foreclosure, or real estate investors with more than 10 properties. 

Read more:

3 unique mortgage products to get today’s homebuyer qualified – HousingWire