Non-QM Loans
Non-QM loans do not meet the underwriting requirements for the most common conventional LoA government-sponsored lending programs. Enterprises (GSEs) such as Fannie Mae, Freddie Mac, or Ginnie Mae. These loans may have higher interest rates and more stringent credit requirements than GSE-eligible loans. Non-traditional lenders such as private equity firms, hedge funds, or other non-bank financial institutions often offer them. Common types of non-QM loans include bank statement loans.