NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
Teach Me How to NONIMay 14th 2019
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
BRYAN FILKEY SR. MANAGING DIRECTOR OF NONQM
Bryan has extensive experience and expertise in capital markets, product development, operations, technology and management. He has overseen more than $2.3 billion in NonQM originations and has experience running successful wholesale and correspondent divisions for national lenders. As President of B2B at a national, publicly traded mortgage company he oversaw capital markets, wholesale & correspondent divisions, NonQM production and was the head of IT R&D where his team pioneered proprietary AUS, automated conditioning engine, data integrity module, a custom portal and enhanced rules & reporting. He is regarded as one of the pioneers & thought leaders of NonQM and is passionate about growing the alternative lending market in a responsible way. His previous employers include prestigious firms such as: PIMCO, Capital One Bank & Credit Suisse.
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
Designed for business purpose 1-4 unit commercial loans• No income or employment collected on the loan application• No 4506T, Transcripts, W2s, or Tax Returns
Qualification is based on property cash-flow NOT borrower income• Rental income is taken from an existing lease or the rent survey from the
appraisal and compared to the mortgage payment to determine debt coverage ratio
You’ve got a NONI when the rental income/(P)ITIA ≥ 1.0
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
MARKET OPPORTUNITY
Data is from the American Housing Survey and the IRS
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
With approximately 1 in 12 taxpayers owning, on average, 2 units each there is a tremendous marketplace for business purpose loans
In California alone, there are nearly 6 million NOO units representing 45% of all units in the state. With many investors turning to hard money for financing solutions, the NONI is poised to be the fastest
growing segment of the non-GSE home lending market. With no limitations on the number of financed properties and with interest rates several hundred bps lower than private money loans, the value proposition of the NONI is unparalleled.
WHAT DOES THIS MEAN FOR US?
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NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
WHAT SETS NONI APART?
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
ARE ALL CASH FLOW PROGRAMS CREATED EQUAL?
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
NONI QUALIFYING
In this example, a 5/1 IO would require at least $3,041.67 in “rents” to qualify as a NONI. At a competitor which uses the fully indexed rate over the remaining term AND a 1.15 cash-flow ratio, the same product requires $5,824.04 in “rents”
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
SHORT TERM RENTALS: AIRBNB & VRBOPurchaseUse the rents provided on the market rent schedule.
RefinanceUse the leases collected throughout the year and average them over the 12 month period. This can be done via a 12 months of statements or an annual statement provided by the online service.
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
FIRST-TIME INVESTOR
A first-time investor is defined as a borrower who has not owned at least one investment property for a minimum of 12 months during the most recent 36-month period. Allowed with 5% LTV reduction Must have housing history and be 0x30x12 FTHB not allowed
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
A RATE SHEET DESIGNED WITH YOU IN MIND
[insert rate sheet]
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
IF YOU WANT TO SELL THE BEST NON-OWNER PRODUCT IN THE MARKET
NMLS# 133519 Hometown Equity Mortgage, LLC dba theLender. This material is intended solely for the use of licensed mortgage professionals. Distribution to consumers is strictly prohibited. Program and rates are subject to change without notice. Not available in all states. Terms subject to qualification.
WE LOOK FORWARD TO WORKING WITH YOU!
QUESTIONS?For employment opportunities contact: [email protected]
Contact your AE for more details, if you don’t have an AE contact Mike McCarthy.
