The Loan Store launches HELOC product; LendingPros debuts condotel financing solution; Carrington Mortgage introduces 40-year fixed-rate terms for non-QM products; RenoFi partners with TruStage for after-renovation-value HELOCs; WAMC merges with Terra Property Trust; UWM announces four new bank statement loan options.

Change Mortgage’s unique approach to underwriting for underserved communities has earned the CDFI its first AAA-rated security.

The share of no- or sub-ratio loans in the DSCR space rose to 43.7% in the first quarter of 2023, according to DBRS. A ratio of less than 1.0 indicates monthly rent doesn’t fully cover loan payments.

Renewed calls for standardization come with potential challenges unique to the non-QM sector.

The lender’s lawsuit alleges that a former account executive took private broker information from the company’s database and broke the lender’s noncompete clause.

Originations of expanded-credit mortgages declined in the first quarter, but not as much as total first-lien production. Trends among expanded-credit lenders were decidedly mixed. (Includes data chart.)

At a non-QM conference this week, leaders of non-QM operations detailed the importance of education for lenders looking to expand their book of business.

Legislation in 12 states may impact the buying power of foreign nationals from seven countries.

Deephaven Mortgage and Arc Home are looking to add to their operations and sales teams to take advantage of upcoming opportunities in the non-QM space.

Real estate investment trusts are facing adversity in the non-qualified mortgage space due to high interest rates and low originations.