“A critical element of success is that we believe you should work with a highly qualified, experienced, non-QM lender. In 2021, many people will return to the non-QM space. To be an expert, you must filter noise and work with the best in the industry. This is the only way to be successful in non-QM matters and to gain good experience is to find reliable and experienced non-QM lenders and work with them. “
So how feasible is this for someone who is relatively new to the non-QM sector? Are they in danger of being left behind as more experienced colleagues thrive – or is there a way to avoid it?
“It is inevitable that loan officers who have been doing non-QM for years will be a little ahead of the game, rather than someone trying to make their first loan without QM,” Hutchence said. “But it’s really not hard for them to accept non-QM. Once you do that, you can start promoting yourself as something other than the regular loan officer Fannie Mae and Freddie Mac. “
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