In the regulatory climate since the Consumer Financial Protection Bureau’s (CFPB’s) Qualified Mortgage (QM) rules went into effect in January, many financially responsible borrowers are still having difficulty finding mortgage loans. To support well-qualified homeowners, On Q Financial, Inc., is introducing non-QM loan programs to help borrowers secure a loan that meets their financial requirements.

On Q’s new non-QM loan products include solutions for self-employed or recently retired borrowers, individuals with a short credit history or flawed credit from a past short sale or foreclosure. On Q will also be offering debt-to-income ratios up to 50% on certain products and introducing a 40 year amortization Jumbo loan with an interest-only option in the weeks to come.

In addition, On Q, a FNMA, FHMC and GNMA approved seller/servicer is also relaxing its underwriting credit overlays.

“We recognize that many lenders are continuing to impose strict standards, burdensome policies and credit overlays for self-protection, but at On Q we are focused on helping well-qualified customers get into homeownership. There are a lot of responsible people that don’t fit into the QM box that are getting shut out of the market,” said John Bergman, Founder and President of On Q Financial, Inc. “It’s been ten months since QM regulations have been in effect and we are confident that with our sensible underwriting standards, these non-QM loans will provide an ideal solution for On Q, our investors and our borrowers.”

On Q is excited about entering the market of non-Qualified Mortgage lending in a responsible manner. “We will reach the under-served market of borrowers who have ample equity and assets, but may be challenged by income or credit factors. At On Q, we have the ability to make decisions intelligently, on a loan-by-loan basis while still ensuring that the loan meets responsible standards.”