#non-qm

#non-qm

Through UHM Platinum, investors will have access to products that include bank-statement loans and debt-service-coverage ratio (DSCR) loans as well as qualified mortgage options such as jumbo and non-owner-occupied loans. UHM said it plans to continue expanding its non-QM product suite in the coming months to meet changing market demand. Union Home has enjoyed significant growth to our non-QM business, CEO Bill Cosgrove said in a statement.

Non-QM stands for Non-Qualified Mortgage. It sounds technical, but the idea is simple: fully documented loans for creditworthy people whose finances don't slot neatly into the narrow rules used by Fannie Mae, Freddie Mac, FHA, or VA. They are not the risky products from the last housing crisis. Today's Non-QM loans are fully documented, fully underwritten mortgages that use different paperworkand common-sense analysisto show you can repay.