PennyMac Financial Services Inc. on Wednesday announced that its Correspondent Group will launch a new suite of nonqualified mortgage (non-QM) products on Sept. 22.

The new suite offers four product types: debt service coverage ratio (DSCR) loans, along with A+, A and A- credit grades, which are distinguished by a borrower’s housing payment history.

Each product is designed to serve self-employed professionals, entrepreneurs, real estate investors and other creditworthy borrowers with nontraditional income profiles.

“Our non-QM offerings are about unlocking opportunities for our Pennymac Correspondent clients and the borrowers they serve,” said Alex Boand, chief correspondent production officer details ⇒

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