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Updated over 2 years ago,
Robin SimonPoster
#3 Private Lending & Conventional Mortgage Advice Contributor
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- Austin, TX
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Question for Conventional/Non-QM Brokers/Lenders that do DSCR loa
For any conventional/non-QM brokers and lenders - if you do a full suite of products for investment properties, I'm curious to know how many deals start as conventional / or non-QM non-DSCR (such as Bank Statement, Asset Depletion, etc.) but then hits a snag in qualification and then moves/qualifies as DSCR (instead of deal getting completely canceled). Do a lot of the borrowers that miss qualifying at underwriting end up switching to a DSCR loan or is that portion just ended up canceling the deal?
Also curious if there have been any changes in the above answers in the current climate vs. last year etc