LoanNEX CEO on how company fared after non-QM market rebound

The COVID-19 pandemic has taken non-QM players on a wild rollercoaster ride. One of the companies that have seen their fair share of ups and downs was LoanNEX, a B2B mortgage tech company focused on providing more access and transparency to non-agency investor programs through its platform. Eloise Schmitz, co-founder and CEO of LoanNEX, shared with MPA Talk podcast how she handled a crisis like that on both a personal and professional level.

Schmitz co-founded LoanNEX in 2012 with mortgage veteran Ken Niemann, who she has known since seventh grade. LoanNEX was thriving in this niche market segment, but when the pandemic hit, the company’s customer base disappeared overnight as non-QM lenders halted their operations.

“That was a particularly tough time. All of our customers closed up overnight, and while we have a lot of clients in suspension, we went down to two clients. That’s all of the private sectors that were really up and operating,” Schmitz said.