Ready To Increase Your Volume In This Booming Purchase Market? Work With The Leader In Non-QM!

It’s a great time to be in the mortgage industry! Even the months that are typically slower, November through February, were on fire this year setting records in mortgage volume. Now more than ever, non-QM is in demand and every originator should understand why. Borrowers have changed circumstances due to the pandemic, Agency guidelines are tighter, and many cannot qualify using tax returns to name a few scenarios. Regardless, these borrowers are still purchasing homes as evident by week over week increases in purchase applications and a purchase market boom expected well into 2021. Originators who understand non-QM work with us every day to get their deals done easily and quickly. How will you avoid losing loans? With non-QM options available to you, you won’t have to worry about losing a deal or referrals. 

The Power Of Non-QM

Non-QM gets it done when Agency does not. Originators who think they can increase their volume over last year with Agency alone might be in for a challenge. Forward thinking originators that embrace non-QM could have a windfall opportunity in 2021. Non-QM loans are not difficult to close and they are good performing loans. Originators who close non-QM deals understand that it is as easy to close as an Agency loan. They also know that without non-QM, the borrower pool is too small and will continue to shrink further as borrower’s circumstances continue to change due to the pandemic.  

A few months ago, the challenge was simply a lot of refinance volume. Well, based on reports from the Mortgage Bankers Association, refinance applications are decreasing. The next challenge is how to replace that volume. Instead of waiting until it is too late, we recommend partnering with us now and utilizing non-QM to bridge that gap. We can show you HOW to market to self-employed borrowers, property investors, those with credit events, and just missed borrowers. They are going to reach out to someone to close their loan, it may as well be you! They just need the right product. Their Realtor will find a lender to get it done and they will be their lending partner for life. Decreased refinance volume will not be a problem for them. It doesn’t have to be an issue for you either. And it won’t if YOU are the non-QM go to resource for Realtors, CPAs, or loan officers at large banks. 

Without a doubt, the need for non-QM will continue to increase based on the expected needs for borrowers. Take for instance the current population of self-employed borrowers, which is set to increase, of around 18 million people. That is 30% of all employees in the U.S according to the Bureau of Labor Statistics. Many self-employed people qualify for home loans using bank statement submissions. If more people become self-employed or 1099 earners, the demand for 1099 Income loans and bank statement loans will rise. If you have already set yourself up as the expert for self-employed borrowers, you will reap the rewards.

Knowing This, What Should You Do?

Partner with Angel Oak Mortgage Solutions and find out more about non-QM. Ask one of our account executives to join you to meet with CPAs, Realtors and other clients and have them present non-QM as the expert on your behalf. As well, ask your referral partners to send their self-employed clients, property investors, and those with credit events to you for guidance on what to do because you have an excellent resource to help.

Increased bank lending regulations and restrictions will continue to mean more growth for the alternative non-QM space. It is not going away. Anyone who has attended a non-QM convention or training has heard that non-QM is an excellent solution for various types of borrowers. Those who have utilized non-QM have seen referrals increase and their overall profitability has improved. It is a great way to keep the pipelines full regardless of shifts in the market.

Partner With Angel Oak Mortgage Solutions

The best way to continue to grow your volume, particularly if refinances significantly slow, is to talk to us – the leader in non-QM. We have the tools and fast technology such as our QuickQuote pricing tool. Education is key for you and your clients. We will help you close loans while teaching you about non-QM at the same time! Then you become a valuable resource for your Realtors and other clients. Knowledge is power and those who have it reap the benefits. Increased Agency fall-out is certain so be there to pick it up and close those deals working with us. 
Experience The Difference With Angel Oak Mortgage Solutions!

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