Laugh, Lend and Eat

Could the $100B Non-QM Elephant Be the Opportunity You’re Missing?


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Non-QM mortgages are no longer a niche product or a “last resort.” They’re a $100 billion market in 2025 — and if you’re not paying attention, you’re leaving massive opportunities on the table.

In this episode of Laugh, Lend & Eat, Fobby sits down with a powerhouse panel of Non-QM experts:

  • Lisa Schreiber – SVP, eRESI Mortgage

  • David Porter – VP Correspondent Lending, Vista Point Mortgage

  • Mike Perry – AnnieMac’s own Non-QM leader and architect of the “No Deal Left Behind” initiative

Together, they tackle the misconceptions, challenges, and future of Non-QM lending — and they don’t hold back.

  • Why are less than 20% of loan officers adopting Non-QM, and what’s stopping the rest?

  • With average 70% LTVs and 700+ FICOs, why is Non-QM still confused with subprime?

  • If one-third of all loans require exceptions, how do you actually win them?

  • Why do 50% of submissions come in poorly structured — and how do top lenders fix this?

  • What does it mean for the industry that Non-QM is projected to hit $100B this year?

Key Takeaway: Non-QM isn’t a backup plan. It’s a business plan. If you want to grow volume, stand out to referral partners, and own a market niche, Non-QM may be the single biggest opportunity you’re ignoring.

Questions We Dig Into:

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Laugh, Lend and EatBy Fobby Naghmi

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