Volume 2014 - Number 2
January 17, 2014
Lenders Planning Non-QMs Other Than IOs
While many major banks plan to offer mortgages that dont meet qualified mortgage requirements, the originations will largely be limited to interest-only mortgages for well-heeled borrowers. A handful of smaller players have plans to offer a different sort of non-QM, aimed at borrowers with higher debt-to-income ratios or via hybrid adjustable-rate mortgages. Among the firms targeting the non-QM space beyond IOs is Fenway Summer, headed by Raj Date, the former deputy director at the CFPB ...
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