Summary: As unemployment claims soars due to “Shelter in Place” mandates in cities across the nation, lenders who offer non-qualifying mortgage loans are also shutting their office doors. There have been several headlines recently about lenders suspending non-QM loans which could impact real estate investors. An article in HousingWire on March 20th suggested that non-QM lending is the latest victim of the coronavirus. Non-QM loans had become more common in recent years for borrowers who don’t have a traditiona
