?? May Was HOT For Non-QM!
Howdy Non-QMers,
Temperature-wise, we just had the hottest May nationally since 2018. Mirroring that heat was Non-QM! I’ll share the highlights from our three Non-QM Town Hall sponsors.
Logan Finance’s Chief Revenue Officer Aaron Samples shared that their company doubled previous volumes and established itself among the top three Non-QM wholesale lenders. "Logan has had consecutive record-breaking, month-over-month volume and we see the same trajectory going forward," Samples noted, highlighting the firm's growth in investor DSCR business.
Deephaven Mortgage also set a new company record for Non-QM loan production in May. Tom Davis , Chief Sales Officer, credits their specialized products like Bank Statement loans and DSCR loans for their continued success. "Deephaven Mortgage continues to break production records, underscoring the enduring demand and robust partnerships," Davis remarked.
Adding to the month's achievements, Angel Oak Mortgage Solutions EVP of Production Tom Hutchens reported strong performance driven by their company’s innovative products. "May was another great month for AO. We continue to see a big appetite for our products from originators across the country, with Bank Statement HELOCs being our fastest growing product," Hutchens shared.
Overall Non-QM securitizations climbed to a significant $3.908 billion in May 2024, up from $1.4 billion in May 2023. This surge reflects growing investor confidence and broker and banker adoption.? These updates from industry leaders highlight a thriving market, with strategic innovations and an expanding scope, poised for further growth and evolution in the Non-QM landscape. We’ll really get into it during next week’s Non-QM Town Hall, which happens on Thursday, June 20. Save your seat here.
— Andrew Berman , Head of Engagement and Outreach
PS: Who's your favorite?Non-QM?lender? Please tell?me?why they're?your favorite.
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