Today there are two different types of home loans: qualified and non-qualified mortgage products. Qualified mortgages pertain to those loans that meet the Qualified Mortgage Guidelines as well as the Ability to Repay Rules. Both of these guidelines protect the consumer by disallowing lenders to provide consumers with a loan that they cannot fully demonstrate […]
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 […]