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residential

Home / residential
28Sep

You Can Have Success With Non-QM In Five Easy Steps

September 28, 2022 California MBA Residential

Learning and utilizing non-QM is not difficult, especially when you partner with the leader in non-QM, Angel Oak Mortgage Solutions. Angel Oak goes out of their way to make closing loans with non-QM as easy as possible. In fact, they created a PDF for originators listing 5 easy steps to follow for success with non-QM.

Angel Oak Mortgage Solutions is an exclusive non-QM lender and has built a very successful company around non-QM. This is because the demand for the products is so strong in the market. They have helped a significant number of originators grow their business over the years. In today’s volatile market, they are helping many originators protect their volume and referrals. When the Agency market is down and refinance business slow, non-QM is where to look for additional business. Non-QM helps you close loans that you otherwise would not have closed. A great example is closing a loan for a self-employed borrower who can’t qualify using their tax returns due to tax deductions. That borrower can get a loan submitting bank statements instead of tax returns. Angel Oak has a Bank Statement and 1099 Income program that are their most utilized loan products. Many originators prospect just for self-employed borrowers due to the success they have had closing Bank Statement loans.

Originators that utilize non-QM have something else of value to bring to their referral partners. There is always a scenario to share when you close a non-QM loan – because you did something for a borrower that was not going to happen without your help and a non-QM loan. It is a great example to share with your clients on how you are an expert on challenging loan scenarios.

You can download a PDF that details five steps to follow for success using non-QM.

The steps include:

Staying top of mind in social media
The importance of consistent networking
Finding your niche within non-QM programs
Choosing the right non-QM lender
Establishing a personal brand

Get them now!

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23Mar

Mortgage Underwriting: What You Need to Know | Redfin

March 23, 2022 California MBA Residential

Check out the recent Redfin article we were featured in: Mortgage Underwriting: What You Need to Know | Redfin

Mortgage underwriting is a necessary step in the mortgage origination process and begins when the seller accepts the offer you submitted to purchase a home. Either you or your real estate agent contacts your lender, who then collects the necessary paperwork and sends your loan package to the underwriter. 

Whether you’re a first-time homebuyer or just want to be familiar with the process, so you’re better equipped when it’s time to apply for a mortgage, here’s what you need to know.

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12Nov

What Data Insights Do Mortgage Lenders Need Right Now?

November 12, 2020 LBA Ware Residential

The novel coronavirus outbreak has tested lenders’ ability to adapt to sudden, monumental change. Branch managers are grappling with an influx of record-high refi volume and lack of staff capacity all while transitioning to a remote business model. Instant data insights and concise communication are now more important than ever to keep employees connected, on track, and of course, motivated.

To absorb as much refi business as possible while keeping consumers happy, branch managers will need to go “back to basics” in their evaluation of operations and production data.

Here are three real-time data analytics branch managers can use to keep themselves out of the weeds and ensure the entire branch is on the same page.

1. Pull-Through and Fallout

Pull-through and fallout data are essential to helping branch managers identify where they are losing business, why it’s happening and what steps they can take to prevent future losses. Take, for instance, a common lender predicament in our current market: volume is high, but fallout has increased. A branch manager who’s satisfied to simply attribute unusually high fallout to an increased rate shopping market and wash their hands of it could be losing a large swath of good loans.

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