Real Estate News: Real Estate Investing Podcast

Coronavirus Spooks Non-QM Lenders

03.27.2020 - By Kathy Fettke / RealWealthPlay

Download our free app to listen on your phone

Download on the App StoreGet it on Google Play

As unemployment claims soars due to “Shelter in Place” mandates in cities across the nation, lenders who offer non-qualifying mortgage loans are also shutting their office doors. There have been several headlines recently about lenders suspending non-QM loans which could impact real estate investors.   An article in HousingWire on March 20th suggested that non-QM lending is the latest victim of the coronavirus. (1) Non-QM loans had become more common in recent years for borrowers who don’t have a traditional income source, and need alternative methods of income verification. Many real estate investors fall into this category. And due to the uncertainty created by the virus, several lenders have recently announced they are suspending non-QM loans.   www.NewsForInvestors.com

More episodes from Real Estate News: Real Estate Investing Podcast