NQM Funding, LLC

Basic information

QM program

N/A

Loss payee

NQM Funding, LLC. ISAOA/ATIMA 4800 N Federal Hwy, Bldg. E, Suite 200 Boca Raton, FL 33431 (Include NQMF loan #)

CPL or subordinate clause

NQM Funding, LLC. ISAOA/ATIMA 4800 N Federal Highway Building E, Suite 200 Boca Raton, FL 33431

Lock policies & fees

Lock policies

Lock extension

7 days at .25 cost 15 days at .375 cost

Relock

Worse case pricing less 0.25 relock fee

Lock & Shop

No

Lender's niche & overlays

Lender's niche

Super jumbo loan amounts up to $5M (Full doc/Alt doc)

Bank statement program up to 90% LTV
P&L Only
DSCR up to 85% LTV
DSCR Low Ratio and No Ratio options available
DSCR - No seasoning or sourcing for cash to close/reserves
DSCR Mix-Use up to 8 units or 10 units for all residential
ITIN up to 85% LTV
Foreign National 2nd home/DSCR
HELOAN up to 85% CLTV (Max loan amount $500k)

DSCR Supreme, Investor DSCR and Foreign National Program Matrices are effective 03/17/2025. Those changes include:

1. Increasing the Minimum Short Term Rental DSCR Ratio to 1.15
2. The Ability to Use a Short Term Rental Analysis Developed by an AMC

Lender's overlays

NQM Funding, LLC has temporarily halted wholesale originations for all TRID loans in the state of New York. 

Lender turn time

Initial underwrite (days)

3

CTC conditions review (days)

1

Initial CD (days)

1

Reviews