The non-QM renaissance is here to stay

The growth of the non-qualified mortgage market shows no signs of slowing post-pandemic, in a trend that’s changing market fundamentals over the long term. First Guaranty Mortgage Corporation (FMDC), a full-service lender based in Plano, Texas, has been establishing itself as an industry leader since it returned to the non-QM space in 2020.

In a recent MPA Talk podcast episode, MPA news editor Richard Torne caught up with Paul Jones, FMDC senior vice president of non-QM development and production, to discuss the challenges and opportunities brought by non-QM.

One common misconception surrounding this loan product, Jones explained, is that many people still correlate non-QM as a subprime offering