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Volume 2014 - Number 36

September 25, 2014

Much for Lenders to Consider as They Eyeball Entering the Non-QM Space, Current Players Say

The market outside the pristine parameters of the Consumer Financial Protection Bureauís qualified mortgage offers less-competitive opportunity and potentially sizeable legal risk, according to panelists participating in a webinar sponsored this week by Inside Mortgage Finance. Brian Simon, chief operating officer for New Penn Financial, noted that the regulatory environment makes a move into non-QM lending much more complicated than in the past because the risks for the originator and the purchaser now are greater than theyíve ever been. However, Simon added: ďA high degree of difficulty usually results in higher yield and opportunity.Ē The New Penn executive predicted...

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With originations expected to drop in 2018, will your shop turn to non-QM/non-prime mortgage products as a way to bolster volumes?

Yes, definitely. We’re planning a launch.


No. It’s still difficult compliance/regulatory-wise.


Maybe. It’s under consideration.


Not now. But things could change as 2018 progresses.