Non-QM Data

Modex collects and analyzes non-QM (Non-Qualified Mortgage) loan data to provide insights into this unique segment of the mortgage market. Due to the nature of non-QM loans, our approach to identifying and tracking this data differs from our standard mortgage data collection.

Why is non-QM production difficult to identify?

Non-QM loans are primarily defined by borrower characteristics that are not typically available in public records or standard production data. These characteristics may include unconventional income sources, self-employment status, foreign nationality, unique occupancy situations, or asset depletion scenarios. Unlike conventional loans, which can be identified through specific programs or conforming limits, non-QM loans require a more nuanced approach to identification.

How does Modex identify non-QM production?

Given the limitations in directly identifying non-QM loans from public records, Modex has developed a specialized method:

1. Upstream Lender Analysis: We maintain a comprehensive list of lenders known to originate non-QM loans. By identifying these lenders in our production data, we can infer non-QM activity.
2. Continuous Updates: We regularly update our lender list to ensure we're capturing new entrants to the non-QM market and any shifts in lender focus.

What are the limitations of Modex's non-QM identification method?

While our method provides valuable insights into non-QM production, it's important to note:

1. Not all loans from identified non-QM lenders are necessarily non-QM products.
2. Some non-QM production may be missed if originated by lenders not on our list.
3. The non-QM market is dynamic, with lenders entering and exiting frequently.

How often is the non-QM data refreshed?

We update our non-QM lender list monthly to ensure current market representation.

What is the coverage of non-QM data?

Our coverage extends across all counties and states where we collect mortgage data. Historical data is available from the point we began tracking each non-QM lender.

Can clients access the list of non-QM lenders?

Yes, our list of non-QM lenders is available to our clients upon request, allowing for transparency in our identification process.

What additional support does Modex offer for non-QM data analysis?

For clients interested in diving deeper into non-QM data:

1. We offer consultations with our data specialists for custom non-QM market analyses.
2. We host webinars on interpreting and leveraging non-QM market data.
3. Our support team is available to answer any questions and provide the non-QM lender list upon request.