HousingWire Daily HomeLight’s Nick Friedman talks about the rise of non-QM lending
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Jun 21, 2025 Nick Friedman, the President of HomeLight and a recognized rising star, dives into the captivating world of non-QM lending. He discusses the complexities that self-employed borrowers face and why empathy is crucial in real estate. The conversation highlights emerging trends in lending products and innovative financing solutions that can help buyers in today's tough market. Friedman also emphasizes the importance of clean data for lenders and effective communication about non-QM options, leaving listeners with valuable insights on navigating housing challenges.
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Non-QM Lending Surge
- Non-QM mortgages are surprisingly in high demand, with 75% of loan officers citing them as most requested currently.
- However, the complexity and slow underwriting process deter many loan officers from fully adopting these products.
Outdated Mortgage Criteria
- Modern income sources like gig work and entrepreneurship don't fit traditional mortgage credit models.
- Fannie Mae and Freddie Mac haven't updated their criteria to accommodate many new earning methods yet.
Seller Concessions Trend
- Nearly half of home purchases now include seller concessions, especially in less competitive markets.
- Sellers are more empathetic buyers themselves, creating a collaborative concession dynamic.