While the mortgage industry is abuzz with layoffs chatter, some non-QM companies are instead revving up hiring.
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Hello, LOs!
While the mortgage industry is abuzz with layoffs chatter, some non-QM companies are instead revving up hiring.
Acra Lending, PRMG, and Sprout Mortgage have all announced within the past several weeks that, going into the new year, they are looking to pick up some new mortgage talent.
The predominantly non-QM shops are looking to bring onboard loan officers, underwriters, correspondent executives and wholesale account executives. (Folks laid off from Better.com and Interfirst Mortgage last year now have a plethora of options in the non-QM space.)
For months now, industry insiders, including LOs from retail shops, have predicted that the non-QM space is set to boom in 2022, as the market transitions into being more purchase-dense and rates start to tick up. And it seems that non-QM shops have started to prepare for more business.
"As we continue to expand after a record breaking 2021, we are continuing that momentum as we head into a new year," Acra said in a statement announcing that they are hiring.
Tell me LOs, do you think 2022 is the year of the non-QM mortgage? How difficult is it to make the transition from agency to non-QM mortgages? And if you work in the non-QM space, is your employer hiring?
Few in mid-March could have predicted that a perfect storm of ultra-low interest rates, new migration patterns and historic government intervention wouldn't just save them, but line their pockets with billions of dollars and change their entire trajectory. But many of those elements are fading as the industry heads into 2022.
What's on your holiday wish list? Spending more time with family? Doubling production and closing deals in half the time? A wider range of loans to answer your clients' every need? Make your wishes a reality - join Finance of America Mortgage today!
Projecting the outlook for the housing market in the coming year, including prospects for the secondary market for mortgage-backed securities, can be an exercise in crystal-ball gazing, but one indicator key to bringing clarity to that crystal ball is the direction of interest rates.
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