Non-QM
We buy non-QM loans.
Residential loans outside the agency box: bank statement, alt-doc and full doc, including near-prime credit.
For originators of non-QM residential loans who want to sell closed loans.
- No minimum
- Bid within 24 hours
- Servicing released or retained
Buy box
Non-QM buy box, by documentation type
| Bank statement | Personal or business statements, with the income worksheet and expense factor in the file. |
|---|---|
| Alt-doc | Other alternative income documentation, with the calculation reproducible from the file. |
| Full doc | Fully documented income outside the agency box. |
| Credit | Prime and near-prime credit profiles. |
| Compliance | Ability-to-repay (ATR) determination, TRID disclosures and QM status documented. |
| States | All states. |
| Status | Performing at the time of purchase. |
| Leverage, credit and loan size | Set out in our guidelines and matrix, which approved sellers receive. |
How we review
Income, valuation and compliance, reviewed in full.
After you accept our bid, our AI underwriting reviews the entire file (the income documentation and worksheets, the appraisal, the ATR and TRID record, and every loan condition) and our underwriters clear it. That is how diligence clears fast and we close what we commit to.
Fit
What sells well, and what gets kicked out
Sells well
- Income worksheets included, not just the resulting figure
- Exceptions documented with the compensating factor named
- A complete ATR determination and TRID disclosures
- An AMC appraisal by a local appraiser
Gets kicked out
- Missing or incomplete ATR documentation
- TRID disclosure errors
- Income that can't be reproduced from the file
- Subordinate financing behind the loan
What to send
What to send, and when.
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal.
To get a bid: tape fields or portal registration
- Loan ID, property address and property type
- Original and current balance, note rate and maturity
- As-is value, and after-repair value where there is one
- Lien position, occupancy and loan purpose
- Borrower credit score and experience
- Payment status and days delinquent
- Documentation type, DTI and QM status
After you accept: the loan file and collateral documents
- Note, mortgage or deed of trust, and any modifications
- Appraisal, through an AMC with a local appraiser
- Title policy or commitment, and evidence of insurance
- Closing statement and loan approval or conditions
- Borrower and entity documents, including any guaranty
- Payment history and current servicer information
- Income documentation and worksheets
- ATR determination and TRID disclosures
Submit a tape (Excel/CSV or your loan system's export) or register loans in the CorrFirst seller portal. Approved sellers receive our tape template and collateral file checklist.
Become a SellerCommon questions
Non-QM questions
What compliance documentation do you need?
Do credit score and LTV drive the bid?
My underwriting used exceptions. Is that a problem?
I lend on rentals too. Where do those go?
Loans we buy
Other loans we buy
Fix & Flip / Bridge
Rehab and bridge loans, including partially drawn loans with draws still to fund.
See the buy boxGround-Up Construction
New construction up to 10 units, including multifamily and mixed-use.
See the buy boxDSCR & Investor
Rental loans qualified on property cash flow, long-term and short-term rentals.
See the buy boxSmall-Balance Commercial
Multifamily to 25 units and mixed-use to 10 units, $300K to $5M.
See the buy boxSpecialty / Hard-to-Place
Rural, acreage, modular, manufactured, bailouts and foreign nationals.
See the buy boxSeasoned & Performing Portfolios
Seasoned books from private lenders ready to recycle capital.
See the buy boxNext step
Have a non-QM loan to sell?
Submit a tape or register loans in the seller portal. Bid within 24 hours.
