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Non-QM Lenders Could Face Serious Headwinds

BY DOUG PAGE, STAFF WRITER, NATIONAL MORTGAGE PROFESSIONAL The recent abrupt closure of two Non-QM lenders – one that shuttered its doors and another that’s now under Chapter 11 Bankruptcy protection – may have prompted Flagstar Bank’s warehouse lending division to send out a text message, saying funding advances for Non-QM mortgages will require advance approval. “Effective immediately – Funding advances for Non-QM loans targeted to the investors listed below will require approval i...
United States Keith Lind Jack Kahan Susan Bergesen Standard Mortgage Corp Argus Research Senior Analyst Kevin Heal

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