The company’s VP of wholesale sales, Ryan Moon, told MPA about the difficulties faced by brokers and self-employed borrowers in trying to obtain a mortgage for their home.
“‘Self-employment’ is a very broad and sometimes ambiguous term that can cover many different types of borrowers and businesses. Qualifying a self-employed borrower and determining which deposits are allowed can also be tricky, especially if you aren’t familiar with how these loans work,” he said.
Moon said he also recognized the difficulties faced by self-employed workers when trying to qualify for a loan. “Unfortunately, self-employed borrowers have always been underserved when trying to obtain a mortgage,” he said.
Moon, who started his professional career five years ago at Citadel Servicing Corporation, before moving to Acra Lending when the company rebranded earlier this year, stressed the need for an outlet that could serve these borrowers.
He said the webinar would be used to discuss who could be considered ‘self-employed’, and “why and when the exact same sort of deposits might be counted for one self-employed borrower but not another”.