This webinar epitomizes everything we have set out to do for our customers. Educate on why non-QM is important, how to utilize it and optimize it to grow your business. Our webinar hosted with Frank Garay of NREP on The Residual Income Strategy explains how non-QM leads to repeat business. One closed loan utilizing non-QM can result in a refinance in two years or less.
Tom Hutchens with Angel Oak Mortgage Solutions recounts a conversation with a loan officer on how he uses non-QM to his advantage. In a market where a significant number of people either did not grow their business at all or did not meet their expected growth goal, this particular loan officer increased his volume by 30 percent. He did it by utilizing non-QM over the past several years and following up with those clients when he knew they needed to refinance. Repeat business that led to residual income that started with one closed loan.
Follow up strategies, prospecting and using non-QM certainly is not anything new. It has always been a goal but it is so much more important now. We have customers who have been with us for many years who have been very pleased with the repeat business and residual income that resulted from closing a non-QM loan. It is logical that a borrower who closes a loan requiring non-QM will want to refinance 18 months to two years down the line. Why would you give someone else that business?
Tom and Frank go into detail about the importance of an exit strategy and how to make it work to gain repeat business. Non-QM + Exit Strategy = Residual Income! What does this mean exactly? Watch the webinar!