MAXEX has added a new non-QM offering to its mortgage exchange platform.
The company described the new MAXEX Non-QM loan program as the “industry’s first multi-seller to multi-buyer flow liquidity program for alternative documentation loans.” The first flow loan program connects originators with multiple buyers of alternative documentation loans via the MAXEX exchange, using a single contract, a single set of guidelines, and a standard fulfillment process.
“The growing market for creditworthy borrowers with non-traditional income remains a steady trend amid the past two years of mortgage industry volatility,” MAXEX said in its press release. “As more business owners, gig workers, and other non-W2 wage earners continue to vie for homes in today’s high cost / low inventory housing market, lenders’ ability to evaluate and serve these borrowers is pivotal to the long-term success of both. However, the lack of standardization and transparency has long been a barrier to broad access to liquidity for this burgeoning segment.”