Change Lending, a prominent player in the mortgage industry, has recently entered into a tentative agreement with the Treasury Department. This significant development ensures that Change Lending will continue its commitment to originate non-qualified mortgages (non-QMs) for underserved borrowers. By extending financial assistance to individuals who may not meet the stringent requirements of traditional lenders, Change Lending seeks to bridge the gap and provide financing options to those who have been historically overlooked.
This tentative deal with the Treasury Department paves the way for Change Lending to persist in its mission of serving a diverse clientele. Through originating non-QMs, the company can offer loans to borrowers with unique financial circumstances, including self-employed individuals, those with complex income structures, and borrowers with less-than-perfect credit. The collaboration with the Treasury Department ensures that Change Lending will have the necessary support and resources to uphold its commitment to helping underserved borrowers secure financing options that suit their individual needs.
Key points from the text:
– Change Lending has reached a tentative agreement with the Treasury Department.
– The agreement allows Change Lending to continue originating non-qualified mortgages (non-QMs).
– Change Lending’s focus is on serving underserved borrowers.
– Non-QMs cater to individuals with unconventional financial situations.
– The collaboration with the Treasury Department provides support and resources for Change Lending’s mission.
You can read this full article at: https://www.housingwire.com/articles/change-lending-keeps-cdfi-certification-after-agreement-with-us-treasury/(subscription required)
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