Rate marks new non-QM milestone

It achieves its best performance in the market segment to date

Rate marks new non-QM milestone

Rate Companies recorded over $2.8 billion in non-qualified mortgage (Non-QM) loans in 2024, achieving its best performance in this market segment to date.

This milestone indicates the growing role of non-QM lending, which caters to borrowers outside traditional mortgage criteria.

The company’s proprietary non-QM suite, Edge non-QM, launched in January 2024, played a significant role by contributing $1.3 billion to the total.

According to Kate Amor, executive vice president and head of enterprise products, Rate’s approach prioritizes flexible mortgage options and efficiency.

"Those watching the space know Rate stands strong at the forefront of non-QM, continuously refining its product offerings with award winning technology to achieve a turn time below the industry standard," said Amor.

The rising demand for non-QM loans has been driven by economic adjustments in recent years, a trend that began before the pandemic and has accelerated since. Amor stated that the company’s ability to adjust to these changes had positioned it well within the sector.

Jeremy Collett, Rate’s chief capital markets officer, suggested that the company’s advanced technology and innovative products were attracting loan officers nationwide.

"Loan officers specializing in non-QM are turning to Rate for our focus on coupling innovative products with best in market technology towards the singular goal of elevating their business," Collett added.

Chicago-based Rate Companies has more than 850 branches across all states and Washington, D.C. Since its establishment in 2000, it has facilitated home loans and refinancing for over two million homeowners.

How do you see non-QM loans shaping the future of the mortgage industry? Share your insights in the comments.