“Non-QM lending will do what it’s done, 5% of the market. The Mortgage Bankers Association predicts $2.59 trillion in mortgage originations in 2022.
The first one, from the analyst community, including Schneider and UBS’s Brock Vandervliet, says it doesn’t grow more than 5% of the overall mortgage market. What will Non-QM lending amount to this year? There are two sets of views and they’re based on where people sit. S&P Global said Non-QM loan volume in 2021 was $28.6 billion or.
But since there isn’t a Non-QM mortgage association, it’s hard to say what the trend lines for this kind of lending are. The conventional mortgage industry tracks volume through the Mortgage Bankers Association. Yet what no one knows is whether the market will be able to support all the companies piling on. Dozens of lenders have put Non-QM at the forefront of their business plan. But the Pontiac, Mich.-based lender isn’t the only mortgage company with unconventional eyesight. Where Non-QM - the product for the self-employed, the independently wealthy, the 1099 and K1 borrower - was largely a niche product over the past decade, UWM’s entry helped move its reputation mainstream. When United Wholesale Mortgage, the Big Kahuna of originations, decided early this year that it was pushing forward into the Non-QM lending market, it was the biggest single indicator yet that lenders and LOs are looking to non-traditional mortgages to make up for a huge decline in traditional volume.
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