Guide to Non-Qualified Mortgages, 2nd Edition

Four years after the ability-to-repay rule and qualified mortgage standards went into effect, the loans that don’t earn QM status are still a small part of the market. The slow start is due to a pipeline filled to capacity with QM loans, special exceptions to the rule for loans eligible for sale to the government-sponsored enterprises, fear of the as-yet-untested effect of litigation under the rule, and the special skills required to sell and underwrite non-QMs.

But for the handful of mortgage players who have embraced non-QMs and other nonprime lending, the early results have been positive. And it is anticipated that there is plenty of room for others to join them, with the market predicted to grow to as much as $100 billion or more in annual originations.

In the 2nd edition of the Guide to Non-QM Lending, Inside Mortgage Finance examines the current state of the nonprime market and gets insight and feedback from three of the largest players in the space.

Partial Table of Contents

Originations of Non-QMs

  • Potential Market Size
  • Origination Channels
  • Underwriting Issues
  • Alt A-Style Mortgages
  • Bank-Statement Loans
  • Loan Originator Compensation
  • Regulatory Issues
  • Non-QMs and TRID

Servicing Non-QMs

  • Loss Mitigation Efforts

The Secondary Market for Non-QMs

  • Strong Demand from Investors
  • Non-Agency MBS
  • Improved Pricing for Nonprime MBS
  • Nonprime MBS Issuance Expected to Increase
  • Banks Seen as Key for Non-QM MBS
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