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Volume 2014 - Number 8

April 11, 2014

Majority of Banks Willing to Offer Non-QMs

Demand from borrowers for loans that aren’t “qualified mortgages” has prompted many banks to continue to offer non-QMs such as interest-only mortgages or non-agency mortgages with debt-to-income ratios above 43 percent. “We’ve pretty much made the decision that the risk of there being any kind of a kickback from an individual – if we underwrite that thing and document ourselves and do the things we need to do – is a risk worth taking,” said Derek Williams ...

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