Latest news with #Non-QM
Business Wire
5 days ago
- Business
- Business Wire
ResiCentral Launches Comprehensive Non-QM Mortgage Solutions for Non-Traditional Borrowers
PHOENIX--(BUSINESS WIRE)--ResiCentral, LLC, a leading wholesale mortgage lender, today announced the launch of its expanded Non-QM (Non-Qualified Mortgage) product suite designed to provide mortgage solutions for borrowers who don't fit traditional lending guidelines. Today's diverse economy has created millions of successful professionals who don't fit conventional mortgage guidelines. ResiCentral's expanded Non-QM suite provides mortgage brokers with the tools they need to serve them. The new product line addresses a significant market gap by offering alternative income qualification methods for self-employed individuals, entrepreneurs, freelancers, and high-net-worth clients with complex financial profiles. "Today's diverse economy has created millions of successful professionals who don't fit conventional mortgage guidelines," said Brian Permutt, President of ResiCentral. "Our expanded Non-QM suite provides mortgage brokers with the tools they need to serve these valuable clients while maintaining strong lending standards." The comprehensive suite includes three program tiers—Premier Prime, Premier Plus, and Premier Flex—with loan amounts up to $3.5 million and loan-to-value ratios as high as 90% for well-qualified borrowers. All programs feature consistent income calculation methods across multiple documentation types: Bank Statement Program: Uses 12 or 24 months of personal or business bank statements to determine cash flow, with flexible expense factor options Asset Utilization: Qualifies borrowers based on liquid assets rather than traditional income 1099 Income: Simple verification using 1-2 years of 1099 forms with a standard 10% expense factor 12/24 Month P&L: Income verification using CPA-prepared profit and loss statements Full & Express Documentation: Traditional verification with more flexible approaches to employment history A standout innovation in the suite is the Premier Plus Flex program, which utilizes Agency Automated Underwriting Systems for Non-QM loans, potentially simplifying the qualifying process for borrowers who narrowly miss conventional approval. The launch comes at a critical time for mortgage professionals seeking to expand their business amidst changing market conditions. Industry data suggests that self-employment continues to grow, with more than 16 million Americans now classified as self-employed. ResiCentral is supporting its mortgage broker partners with comprehensive training, white-label marketing materials, and specialized tools like bank statement calculators to help them effectively serve this growing market segment. "Our goal is to equip mortgage brokers with both the products and resources they need to confidently say 'yes' when traditional lenders say 'no,'" added Brian Permutt. The new Non-QM product suite is available immediately to ResiCentral's approved broker partners. For more information, go to About ResiCentral ResiCentral, LLC has quickly established itself as a significant player in the wholesale mortgage arena, becoming a valued partner for mortgage brokers across the country. The company's dedication to delivering "Speed with a Smile" combines lightning-fast processing with exceptional customer experience and consistently competitive rates. ResiCentral has experienced extraordinary growth, tripling both its workforce and loan volume in the past year. This remarkable expansion is guided by a leadership team with decades of industry expertise, positioning ResiCentral at the forefront of the wholesale and non-delegated lending market. Company NMLS 1907538 (
Business Wire
29-05-2025
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to OBX 2025-NQM10 Trust
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2025-NQM10 Trust, a $623.6 million non-prime RMBS transaction. The underlying collateral, comprising 1,083 residential mortgages, is characterized by a notable concentration of alternative income documentation (92.3%) loans. Most of the loans are classified as non-qualified mortgages (Non-QM) (44.2%) or exempt (47.1%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Related Publications Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009622
Business Wire
22-04-2025
- Business
- Business Wire
KBRA Assigns Preliminary Ratings to OBX 2025-NQM7 Trust
NEW YORK--(BUSINESS WIRE)--KBRA assigns preliminary ratings to six classes of mortgage-backed notes from OBX 2025-NQM7 Trust, a $572.4 million non-prime RMBS transaction. The underlying collateral, comprising 1,203 residential mortgages, is characterized by a notable concentration of alternative income documentation (89.7%) loans. Most of the loans are classified as non-qualified mortgages (Non-QM) (45.8%) or exempt (44.3%) from the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule due to being originated for non-consumer loan purposes. KBRA's rating approach incorporated loan-level analysis of the mortgage pool through its Residential Asset Loss Model (REALM), an examination of the results from third-party loan file due diligence, cash flow modeling analysis of the transaction's payment structure, reviews of key transaction parties and an assessment of the transaction's legal structure and documentation. This analysis is further described in our U.S. RMBS Rating Methodology. To access ratings and relevant documents, click here. Click here to view the report. Recent Publications Methodologies RMBS: U.S. RMBS Rating Methodology Structured Finance: Global Structured Finance Counterparty Methodology ESG Global Rating Methodology Disclosures Further information on key credit considerations, sensitivity analyses that consider what factors can affect these credit ratings and how they could lead to an upgrade or a downgrade, and ESG factors (where they are a key driver behind the change to the credit rating or rating outlook) can be found in the full rating report referenced above. A description of all substantially material sources that were used to prepare the credit rating and information on the methodology(ies) (inclusive of any material models and sensitivity analyses of the relevant key rating assumptions, as applicable) used in determining the credit rating is available in the Information Disclosure Form(s) located here. Information on the meaning of each rating category can be located here. Further disclosures relating to this rating action are available in the Information Disclosure Form(s) referenced above. Additional information regarding KBRA policies, methodologies, rating scales and disclosures are available at About KBRA Kroll Bond Rating Agency, LLC (KBRA), one of the major credit rating agencies (CRA), is a full-service CRA registered with the U.S. Securities and Exchange Commission as an NRSRO. Kroll Bond Rating Agency Europe Limited is registered as a CRA with the European Securities and Markets Authority. Kroll Bond Rating Agency UK Limited is registered as a CRA with the UK Financial Conduct Authority. In addition, KBRA is designated as a Designated Rating Organization (DRO) by the Ontario Securities Commission for issuers of asset-backed securities to file a short form prospectus or shelf prospectus. KBRA is also recognized as a Qualified Rating Agency by Taiwan's Financial Supervisory Commission and is recognized by the National Association of Insurance Commissioners as a Credit Rating Provider (CRP) in the U.S. Doc ID: 1009136
Yahoo
24-02-2025
- Business
- Yahoo
Sun West and Crib Equity Launch EdgeAhead: A New Way to Make Homeownership More Attainable and Flexible
Sun West Mortgage Company, Inc., a leading Ai fintech provider, and Crib Equity, a pioneering shared-equity investment marketplace, announced the launch of EdgeAhead, an innovative down payment co-investment designed to help more Americans achieve homeownership. CERRITOS, CALIFORNIA / / February 24, 2025 / EdgeAhead is a Non-QM program from Sun West that offers a co-investment from Crib Equity, effectively doubling the homebuyer's down payment. This groundbreaking approach addresses one of the most significant barriers to homeownership and helps homebuyers buy their dream home sooner with less money out of pocket upfront and without the need of costly private mortgage insurance. Currently available in Arizona, California, Florida, Georgia, and Texas, this program is not limited to first-time homebuyers and requires a minimum of just 10% down payment from the buyer. Pavan Agarwal, CEO of Sun West expressed his enthusiasm for the new program: "EdgeAhead will be a game-changer in the housing market. It represents a significant leap forward in making homeownership accessible for many who thought it was out of reach." EdgeAhead harnesses the power of AngelAi, which automates the review of bank statements, streamlines the entire process, and expedites closings. Agarwal emphasized the ease of use, stating, "It eliminates the headaches traditionally associated with Non-QM loans. You would prefer to do a Non-QM loan instead of an agency loan because it is so easy." EdgeAhead's co-investment is provided by Crib Equity, with the ability to contribute up to half the total down payment - effectively doubling homebuyers' funds. This non-recourse co-investment comes with no monthly payments on the assistance, allowing buyers to benefit from lower upfront costs, a smaller mortgage than without the assistance, and overall reduced monthly payments. Through a shared ownership agreement, each party holds a proportionate share in the home's future equity. Homebuyers maintain control to sell, refinance, or buy out the investment at any time during the shared ownership period (typically 10 years). In case of sale, both parties share net proceeds proportionately based on their initial investment. "Millions of Americans who can afford to own a home lack the upfront funds to buy one," said Skye Laudari, CEO of Crib Equity. "We're proud to partner with Sun West to offer an innovative solution that not only makes homeownership more accessible but also gives buyers greater flexibility-helping them balance upfront costs, monthly payments, and long-term financial security." For more information about EdgeAhead visit About Sun West Mortgage Company (NMLS ID 3277): At Sun West we dedicate ourselves to offering an amazing experience to our customers. To accomplish this, we empower our loan officers so that they can find great rates and provide attractive and appropriate loan options for each customer - at amazing speed. Our focus on technology has given us an edge in the mortgage industry to offer exceptional turn times so the customers can get into the home of their dreams sooner! We are committed to our core values of people, experience, technology, and product. Sun West was founded in 1980 with the perspective of "customers first" and the desire to make the mortgage process easy and stress - free for prospective and refinancing homeowners. Since then, Sun West has developed a multi-billion-dollar loan portfolio and is licensed in 50 states, the District of Columbia, Puerto Rico, and the US Virgin Islands. Our 44 years of experience has been passed down to everyone here at Sun West through excellent leadership and capabilities. For licensing information, go to: Visit for the full list of license information. Please refer to to view Texas Complaint Notice and Servicing Disclosure. In all jurisdictions, the principal (main) licensed location of Sun West Mortgage Company, Inc. is 18303 Gridley Rd, Cerritos, CA 90703, Phone: (800) 453-7884. About Crib Equity Crib Equity is a pioneering shared-equity investment marketplace providing new tools for more affordable, flexible, and sustainable homeownership. By connecting homebuyers and investors in a new way, Crib Equity helps buyers increase their purchasing power, making homeownership more accessible while offering financial flexibility to balance upfront costs, monthly payments, and long-term financial goals. The company is expanding nationwide, with initial rollouts in California, Arizona, Florida, Texas, and Georgia. For more information, visit Crib Equity - a third party organization is not affiliated with Sun West Mortgage Company, Inc. The name "Crib Equity" is owned by Crib Equity. Being High Risk Loans, Non-QM loans may include higher interest rates, closing costs, interest-only periods, or pre-payment penalties. Contact Information Sophie Michaels PR Managersophie@ 309 8221 SOURCE: Sun West Mortgage Company View the original press release on ACCESS Newswire
