Anyone who read the Mortgage Bankers Association’s recent 2021 forecast knows that refinance volume is soon to slow down. Purchase originations are expected to grow 8.5% to a new record of $1.54 trillion in 2021. Refinance originations are predicted to slow next year, decreasing by almost half to $946 billion. It might happen as early as Q1 2021, which is just months away.
With this in mind, what is your plan to prepare? Angel Oak Mortgage Solutions can help you with that right now through its non-QM options even if you are still heavily weighted in refinance volume. Anyone who waits might see their competitors in the lead while you are hunting for new business. Don’t let that happen – utilize non-QM and protect your future business growth.
Angel Oak is Ready To Meet Your Challenge With A Solution:
Challenge 1 – When the refi boom is over, agency business will not be enough to match the refinance volume you lost. How do you get ahead of that?
Solution 1 – Non-QM business will keep the pipeline full now and in the future.
- Bank Statement: Ideal for self-employed borrowers without tax returns. Angel Oak accepts 12 or 24 months personal or business statements for purchases or refinances. Its 1099 option allows 1099 submissions in lieu of tax returns. Angel Oak will review, analyze, and calculate income upfront so you know what you are working with from the start.
- Platinum Jumbo: A competitively priced non-QM Jumbo product for borrowers who do not qualify for Prime Jumbo.
- Portfolio Select: Angel Oak’s full doc mortgage product is for the borrower who “just missed” qualifying for an Agency loan.
- No Income Investor Cash Flow: Property investors can qualify on property cash flow. No personal income or tax returns required.
- Asset Qualifier: This product is for borrowers to qualify using their liquid assets. Angel Oak does not require employment, income, or DTI to qualify.
Working with Angel Oak and utilizing its non-QM products enables you to stop saying no to new purchase business. Don’t let your clients take a deal to another originator that Angel Oak can help you close. They may end up getting your referrals in the future when you need them. Protect and increase your referrals now to make sure you are ahead of your competitors when the refinance boom is over.
Challenge 2 – Protecting and increasing referrals sounds impossible with a heavy volume of referral business right now.
Solution 2 – Work with Angel Oak to close new purchase loans now to protect your referral base.
Do not wait until you have time to wrap your head around how to utilize non-QM. Angel Oak will help you close the loans quickly and teach you all about non-QM at the same time. The end result is that your clients will be happy and your referrals will increase. Position yourself as a resource to Realtors, CPAs and other financial services partners. These new partnerships become career-long partners and will net many referrals over time.
Challenge 3 – You don’t have time to market non-QM.
Solution 3 – Angel Oak’s marketing materials and support does that for you.
Angel Oak has non-QM presentations ready to go and will accompany you to any meeting to present as the expert on your behalf. As well, Angel Oak has marketing flyers for approved originators to use. Simply add your logo and company information and send them off. Many people are not familiar with the profile of the non-QM borrower and the stories non-QM lenders hear every day. That’s the difference. Non-QM typically comes into play because of a unique story. Angel Oak can help you understand challenging scenarios and the products that work. By doing so, you will differentiate yourself from the competition talking about real loan challenges and the solution that closed the deal.
Challenge 4 – Resources are limited.
Solution 4 – Angel Oak has resources and tools that other lenders do not.
Angel Oak’s website offers a lot of information as well as a quick pricing tool, QuickQuote. Run your scenario using Angel Oak’s quick pricing technology and look at the rate and loan options immediately. If it’s a bank statement deal, Angel Oak’s team will review, analyze and calculate income for you that you will get upfront. This is a huge time-saver that you could use right now.
Non-QM originators who can effectively show that they are problem solvers are more likely to grow their business.
The Bottom Line
If you are not known as the go-to non-QM expert in your region, someone else will be. Non-QM originators who start marketing and promoting their business now will be in a better position for business growth after the refi boom. Focus NOW on non-QM to help your business continue to boom in the aftermath. Angel Oak can show you how while closing purchase loans at the same time.
You’ll be in the lead as your competitors hunt for new business. Have a non-QM scenario? Price it quick here.
Want to learn “How to Become a Non-QM Expert”? Register to attend Angel Oak’s product webinar on November 18 at 1:00 EDT / 10:00 PDT.
