With the non-QM space expanding exponentially, there seem to be new non-prime lenders practically every day.Very few of those lenders, however, underwrite, audit, and service their loans – and that’s where Citadel Servicing Corp. (CSC) is different.
Stated Income Loans 2019 Today, you cannot take out a stated income mortgage. By law, lenders must fully document a borrower’s ability to repay loans. As a borrower, you must provide documents that prove that you have the income or the assets to repay a loan. These laws apply to all mortgages for owner-occupied housing.
What Are Non-QM Loans And Lenders Offering QM Loans There is a huge market for Non-Qualified Mortgage Loan Programs and only a few mortgage lenders offer NON-QM Loans nationwide. Gustan Cho Associates and The Gustan Cho Team is one of few mortgage consultants that offer Non-QM Mortgages nationwide on a correspondent lending platform.
In 2018, mortgage industry analysts predict non-QM mortgage. in comparison to the marketplace for conventional loans. Although non-QM lending has grown from nothing to a $5 billion marketplace.