How non-QM lenders are navigating multifamily and regional valuation challenges

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“We’ve seen some headwinds around multifamily,” Jackson told Mortgage Professional America.  “These types of trends sometimes don’t make a whole lot of sense. We’ve seen more focus on 1-to-4 unit, and that business is accelerating. Also, the RTL business has future potential. But I would say, like the 5-to-8 unit, anything above four units definitely presents some challenges.

“And then, on top of that, there are some regional challenges now based on valuation questions on the East Coast. With valuation in general, it’s making sure that everything is above board, as opposed to some of the stuff over in Baltimore specifically.”

Knowing the valuations

Jackson said one way to stay ahead of potential fraudsters is to have extensive experience in a particular area. That way, if a valuation is out of line, it would immediately raise red flags with both brokers and lenders.

“Operationally, I think maybe a way to stay ahead of it is to know what the predominant valuations are in these areas,” Jackson said. “We’ve done thousands of loans in these metropolitan areas. So if the predominant value, let’s say in Philadelphia, is $375,000, if you’re seeing an appraisal come in at $800,000, you probably should take a closer look and figure out what’s going on.”

When discussing high-value investor loans, brokers and lenders must take extra care to ensure the investor receives a good loan. That’s why having experience in a particular market and being cognizant of potential issues before the loan closes is critical to keep a good relationship with those investors.



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