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 […]