We've always seen an uptick in activity when rates increase. After the initial surge in traditional mortgage demand wore off post-pandemic, brokers were eager to replace that volume, and many turned to non-QM products as a solution.
Non-QM lending is much more mainstream now compared to ten years ago, and brokers are more open to learning how it works. For some brokers, there can be a short learning curve on their first Non-QM loan.
We recently closed a $3.3 million loan for a borrower in Colorado who had sold his business for $8 million. He was essentially retired, with plenty of cash, but traditional loan options weren't available to him.
Another success story involves a recent divorcee who received a lump sum settlement but didn't have the income or alimony to qualify for a traditional loan.
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