How Fluctuating Mortgage Rates Affect the Housing Market

July 22, 2022
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In 2020, interest rates were at an all-time low. This made it possible for borrowers to buy larger homes or refinance their current property at a lower rate. However, all-time low-interest rates could not last forever. By January 2022, interest rates began to increase, limiting borrowers’ purchasing power and eroding the refinance market. Mortgage and […]

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Why Self-Employed Borrowers Embrace Bank Statement Loans

May 13, 2022
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What is a bank statement loan, and who benefits from it? A bank statement loan is a type of loan that allows a borrower to qualify for a mortgage using only their personal or business bank statements as documentation for their income. Today’s tax codes allow entrepreneurs to write off business expenses. Although reducing tax […]

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Why Non-QM loans are not the same as Subprime loans.

April 15, 2022
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Today, non-Qualified or Non-QM loans are growing in popularity, but there’s some confusion about what they really are. Let me start with the elephant in the room, they are not the same thing as subprime loans. Non-QM loans are a great solution for brokers to consider in helping those customers qualify for loans they otherwise […]

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Non-QM is set to reach $80 billion in loan originations in 2022

March 24, 2022
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Are you leaving money on the table by only offering agency home loans? Non-QM loans have been increasing in demand since their inception in 2015. As a result, Non-QM is set to reach $80 billion in loan originations in 2022. Non-QM is predicted to double and gain 10% of the mortgage market this year. This […]

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Borrowers may be more suited for Non-QM Loans in today’s soaring housing market.

March 16, 2022
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Brokers who offer conforming and high-balance loan products may be feeling lighter in the pocketbook with today’s soaring home prices. 2022 California Conforming limits are as high as $970,000 for a one-unit property based on FHFA House Price Index Report. A typical home value in California is $745,000 Zillow Indicated, a 20.5% increase over the […]

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Make-up for Lost Production with Non-QM Loans

February 18, 2022
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Agency rates have been hovering at record lows for the past couple of years, traditional lending experienced a boon. However, in 2021 $40 million in Non-QM loans were originated and that number is expected to double in 2022. A recent HousingWire article indicated that agency business will shrink and get more expensive, and an increasing […]

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CoreX Allows Homeownership After a Major Credit Event

February 11, 2022
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With Federal stimulus and additional unemployment payments ending, and thousands of dollars in forbearances and foreclosure moratoriums ending, bankruptcies are sure to rise in 2022. Bankruptcies can impact a borrower’s credit report for up to ten years and borrowers looking to step into homeownership may find it difficult to qualify under conventional underwriting guidelines. A […]

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