Contrary to popular belief, Lorem Ipsum is not simply random text. It has roots in a piece of classical Latin literature from 45 BC, making it over 2000 years old. Richard McClintock, a Latin professor at Hampden-Sydney College in Virginia, looked up one of the more obscure Latin words, consectetur, from a Lorem Ipsum passage, and going through the cites of the word in classical literature, discovered the undoubtable source. Lorem Ipsum comes from sections 1.10.32 and 1.10.33 of "de Finibus Bonorum et Malorum" (The Extremes of Good and Evil) by Cicero, written in 45 BC. This book is a treatise on the theory of ethics, very popular during the Renaissance. The first line of Lorem Ipsum, "Lorem ipsum dolor sit amet..", comes from a line in section 1.10.32.
What is a NonQM Loan?
Any loan that is not underwritten according to conforming guidelines
Loans that do not require tax returns to close
Examples include
Income qualifying based on bank statement deposits and not filed tax returns
DSCR loans that qualify on the rental capability of a property and not personal debt to income ratios (similar to commercial)
1099 or VOE Only loans where only the gross 1099 or verification of employment is all we need to verify income
Foreign national loans for those who do not have citizenship in the USA
Loans for investors who hold more than 10 conventional loans
Benefits of our Non QM products
Wide range of products that almost anyone can qualify for
Lower than 20% down payment options with no PMI are available
Great for self employed borrowers who are trying to their tax liability
Great for seasoned investors who do not want to go through the conventional underwriting process and want to close quickly
No need to worry about debt to income ratios
DSCR available even for ratios > 1!
Super Jumbos available up to $8M
Multifamily and mixed use property loans available
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