HousingWire Daily James Kleimann on the explosion of non-QM lending
Jun 5, 2025
In this discussion, James Kleimann, Managing Editor at HousingWire and a specialist in the mortgage and housing market, shares his expertise on the rise of non-QM lending. He highlights its growing appeal for self-employed borrowers and potential market shifts as Fannie and Freddie consider widening their credit box. The conversation also touches on the evolving role of AI in loan evaluation and the unique challenges that come with adapting to diverse borrower needs. Additionally, they explore the delicate balance government-sponsored enterprises must maintain in embracing innovation.
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James Kleimann's NJ Food Anecdote
- James Kleimann shared his nostalgic experience visiting Atlantic City and White House Subs after many years.
- He recounted his teenage job deep frying hot dogs at Clixie's Texas Wieners in New Jersey, a fond period in his life.
Non-QM Lending Explosion
- Non-QM lending is rapidly growing, driven by self-employed and real estate investor borrowers.
- The wholesale broker channel, especially non-Dell correspondent business, is key in expanding non-QM volume.
Commit to Non-QM Infrastructure
- Firms must build proper infrastructure and train loan officers to effectively grow non-QM lending.
- Commitment at all levels, including underwriting and branch managers, is essential for success in non-QM.