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Do the GSEs need to start thinking about non-QM borrowers?

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Over the next decade, the distinction between non-QM and QM loans will be blurred and the government-sponsored enterprises (GSEs) may have to accommodate the growing market of non-W2 borrowers.

That is what mortgage executives and analysts forecasted for the non-QM market on Friday during IMN’s third annual Non-QM Forum in California as they took note of the rapidly expanding space and the revised Consumer Financial Protection Bureau (CFPB)’s General Qualified Mortgage final rule, better known as the QM rule. 

“One in three workers by the end of this decade will be on 1099s or running a small business,” said details ⇒

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