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Newly launched Defy Mortgage targets non-QM lending market

Nashville, Tennessee-headquartered Defy Mortgage is the latest player to join the non-QM (non-qualified mortgage) lending space, which targets entrepreneurs and gig workers who have various forms of collateral, including cryptocurrency.

The company takes a “holistic approach” to evaluating a homebuyer’s entire asset portfolio, including cryptocurrency and bitcoin, Defy Mortgage said Tuesday in an announcement about the launch.

“Defy Mortgage understands and incorporates the entirety of a borrower’s financial profile,” Todd Orlando, co-founder and CEO of Defy Mortgage, said in an emailed response to questions about the risk of taking cryptocurrency as collateral.

“From a liquidity standpoint, Defy Mortgage is comfortable with assets that details ⇒

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