Volume 2014 - Number 19
May 15, 2014
Market Dynamics Point to Non-QM Lending as Banks, Nonbanks Alike Stake Out Their Territory
Consumer Financial Protection Bureau Director Richard Cordray has repeatedly told mortgage lenders that there are plenty of good loans to be made outside the confines of the qualified mortgage. Increasingly, it looks like market dynamics are backing him up. During a webinar last week hosted by Inside Mortgage Finance, Larry Platt, a partner with the K&L Gates law firm, noted that some lenders are looking outside the QM box to bolster loan origination volume that has plummeted. “The volume is down, and we’ve moved into a purchase-money market,” he observed. Also, there’s...
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