What Are Non-QM Mortgage Loans?
Non-QM (Non-Qualified Mortgage) mortgages are residential loans that don’t meet the strict requirements of the Consumer Financial Protection Bureau (CFPB) for Qualified Mortgages (QM). Whereas traditional loans meet uniform standards for income verification and debt-to-income (DTI) ratios, Non-QM loans permit variability in borrowers with unorthodox financial situations. These loans are extended to individuals who may […]
