The Non-QM Product Gaining Steam in a Low-Volume Market

American Banker, June 14, 2023–Andrew Martinez (subscription)
Some lenders in search of business during the mortgage market’s holding pattern are turning attention to a niche product with millions of prospective borrowers. Community banks, credit unions and other originators have a surging appetite for Individual Taxpayer Identification Loans, or ITIN products. The loans are easy to complete, relatively safe, and can deliver higher yields for mortgage players if a company is ready to step into the space.