Most mortgages require you to have steady employment for a minimum of two years, which leaves out the people that started their business within the last year or so. Does this mean you are forced to rent and wait until your business is in operation for at least 2 years before you can apply for […]
Why you Need to Consider Affordability with your Non-Qualified Loan
When you finally get that approval for your bank statement or stated income loan, you can feel like you are on top of the world, but don’t celebrate too quickly – you need to make sure you can afford the loan before you sign on the dotted line. What does affordability have to do with […]
Non QM Lender News – August 12, 2015
Things are happening on the lender front with many different lenders expanding their Non QM product offerings. From Rob Chrisman this morning: Citadel Servicing Corporation, specializing in Non-QM & Non-Prime lending, is expanding its Correspondent Conduit. “Citadel, a leader in Non-QM lending, is committed to guiding Retail Correspondent Sellers through the process of becoming successful […]
Largest Non QM Lender
Interested in knowing what lenders are out there doing non qualified mortgage? Here is one that is doing them – Athas Capital. From an email I got today: If you have not done so already, now is the time to submit those deals to Athas Capital Group! The Nations Largest Non-QM Lender is providing financial […]
Wells Fargo Gears Up For Non QM
Wells Fargo plans to offer non qualified mortgage loans and hold the loans in their portfolio. That means if you work with Wells Fargo to get a non QM mortgage, you can expect them to hold the loan and you will make your monthly payments to them. At least for now. From MortgageNewsDaily: With new […]
Banks Can Issue Non Qualified and Qualified Mortgage Loans
With the new upcoming qualified mortgage rules, will banks have to choose to issue either qualified mortgages or non qualified mortgages? It doesn’t look that way. It appears that starting in January 2014, banks will be able to issue both qualified mortgages and non-qualified mortgages. Recently, The Federal Reserve, Federal Deposit Insurance Corp and other […]