Caliber Home Loans - Portfolio Lending (Non-QM) Temporarily Suspended

Erik Sandstrom

Mortgage Expert - Call 1-619-379-8999
Staff member
Loan Safe Mortgage
Jan 14, 2011
2,099
181
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San Diego, California
www.loansreduced.com
Hi Team,
We are seeing many lenders across the nation in the non-QM space, hard money...etc either shut their doors or change the guidelines dramatically affecting current loans in the pipeline. Below is an announcement from Caliber's Executive Vice President Russ Smith commenting on Covid-19.

Currently we are experiencing many similarities to what occurred back in 2008 when many lenders shut their doors all in a very short period of time. In this case we are seeing many of them pause or step back mainly due to liquidity issues.

Please take note that if you have a loan in process that is for anything outside the Fannie Mae, Freddie Mac, Ginnie Mae, VA, USDA realm you may want to reach out to your loan officer to see if your loan has been impacted. Please always feel free to give us a call here at LoanSafe and we would be happy to answer any questions you have regarding this. 800-779-4547 or [email protected].

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