"[Non-QMs are] something we are super committed to because we have the widest variety and strongest non-QM product offering in the mortgage space, Banosian said."
"Dubbed Rate Portfolio, the new products are being introduced in a competitive purchase market, aimed at borrowers needing flexibility in their financing."
President Shant Banosian of Rate announced that the company originated about $2.8 billion in the non-QM segment in 2024, highlighting a commitment to expand this area. The goal for 2025 is to double non-QM business, aiming for it to represent nearly 20% of their production. Non-QM products cater to borrowers who do not fit into conventional financing, offering options like flexible documentation for self-employed individuals and asset-based qualification. The introduction of a Buy Before You Sell product further facilitates smoother transactions for home buyers in a competitive market.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]