Notwithstanding the fly-in-the ointment in the shape of the omicron COVID variant, non-QM’s upward trend appears unstoppable.
Hutchens said the decision to put out the flyer was in response to a barrage of questions from originators, curious to find out more about the product.
He said: “We felt that we needed to put together something; a little formula for everybody to follow because we’re getting the same questions over and over – ‘OK, I want to originate non-QM, but how do I do it?’”
Angel Oak has identified five key aspects every originator should focus on to make the most of non-QM, namely leveraging their social media presence, networking extensively and productively with a variety of sources, establishing a personal brand to promote the product, partnering with seasoned lenders with the relevant experience, and finding a non-QM niche for themselves.
Surprisingly, many originators were not taking advantage of the marketing opportunities afforded by social media, Hutchens said.