The non-QM market remains a “choppy” environment – but lenders equipped with the tools to withstand that turbulence will be well positioned moving ahead, according to the chief executive officer of a prominent lender in the space.
Keith Lind (pictured top), of Acra Lending, told Mortgage Professional America that the company had navigated those hurdles to continue growing and expanding opportunities looking forward.
“For Acra, specifically, we continue to see this tailwind from what’s going on around us – whether it’s our competitors or just other factors with what’s going on in the mortgage space,” he said. “I think we’ve solidified our name here as a top non-QM lender in the country and I think that’s starting to pay dividends.
“We’re excited about what the rest of the year holds. But I do think it’s going to be choppy – no different than what we thought coming into 2024. But we’re going to stay the course. The good thing is our pipeline’s getting bigger, but we’re also bringing in more liquidity from new investors. So we’re excited about the rest of the year.”
Freddie Mac’s report signals a slowdown in housing market activity as mortgage rates climb above 7%. Robert Senko of ACC Mortgage anticipates continued resilience among mortgage brokers, citing historical market fluctuations. https://t.co/LbOqZ7WwFT#homesales #mortgagebroker
— Mortgage Professional America Magazine (@MPAMagazineUS) May 23, 2024
Sector poised for growth as institutional lenders toughen stance
The growing need among borrowers for mortgage solutions that can’t be offered by banks in the current climate, Lind said, means brokers should take the time to familiarize themselves with the non-QM space.
