Acra Lending is the nation’s premier non-prime wholesale lender. The company offers loans through a network of independent agents and brokers.
The firm is seeking talented mortgage professionals to join its team. In addition to helping lenders access capital, Acra Lending also assists with alternative income documentation.
Non-QM mortgages are not a repeat of subprime loans
A Non-QM mortgage is a type of loan that is not subject to the strict rules of a QM loan. It is an attractive investment class that represents an appealing opportunity for investors. However, the prospect of Non-QM loans also raises concerns that the market will repeat the history of subprime mortgages.
- There are two key differences between a conventional and non-QM loan
. First, the interest rates are higher. Second, borrowers do not have to meet all the stringent underwriting standards of QM loans. This means that more borrowers can qualify.
- Another big difference is that QM loans cannot be balloon loans.
They must also be guaranteed by the Department of Veterans Affairs or the Federal Housing Administration. Also, they must be eligible to be sold to Fannie Mae or Freddie Mac.
Then, there are the Ability-to-Repay (ATR) requirements
These are stricter underwriting standards that provide more legal protection for creditors. For example, construction loans, reverse mortgage loans, and timeshare plans are excluded from the ATR requirements.
Finally, many Non-QM lenders are willing to manually underwrite work products. That means that they are better able to account for credit, income, and assets. In fact, they are much more likely to verify a borrower’s assets than a traditional lender.
- Non-QM lending is also a very large market for originators
In fact, it is expected to reach between $200-300 billion per annum in the coming years.
- Non-QM mortgages are not a direct descendant of the subprime mortgages that caused the housing crisis in 2008. Instead, they offer a wider range of potential borrowers and are easier to qualify for.
- As the market for non-QM mortgages continues to grow, more lenders will be able to take advantage of their potential. Moreover, more investors will begin to see the value of this investment class.
- A Non-QM loan is an important tool for self-employed borrowers and other people with credit events. Without this type of loan, these borrowers may not be able to get a home loan.
If you are thinking about buying a home in the future, it is important that you learn more about Non-QM loan options. Knowing the right types of loans will help you find the perfect mortgage.
The company’s role in facilitating access to capital
Acra’s role in facilitating access to capital is more than just a flash in the pan. To their credit, Acra has a well-crafted plan for the future. They are putting their best foot forward in the mortgage market by providing an assortment of mortgage products. They are also a leading provider of non-QM capital solutions, with the promise of more on the way.
In the past few years, there has been a wave of new entrants into the mortgage industry, led by a slew of unlicensed brokers.
- This may be a good thing for savvy investors, but not for lenders, who have to be more discerning in their lending decisions.
- In their quest to meet the olfactory demands of a new and growing customer base, lenders are deploying a myriad of tools, from data analytics and machine learning to traditional loan underwriting.
- These measures are all in the name of ensuring a smoother lending process for everyone involved. With this in mind, the lender of the future will be one that focuses on providing customers with a comprehensive lending experience.
- The company’s non-QM offerings, in particular, have earned them the enviable honor of being the premier Non-QM lending organization in the nation.
- Using a multi-level strategic approach to the business, the firm has positioned itself as a leader in the industry,
- with a slew of nimble and scalable offerings that span nine states and the District of Columbia. By leveraging its unique blend of expertise and technology, Acra is well-positioned to make its mark on the national stage.
While it is true that Acra’s role in facilitating access to capital is more than a flash in the pan, its role in the finance industry will be an invaluable one for years to come.
It’s seeking talented mortgage professionals
The mortgage industry is a competitive and exciting one, albeit one that requires some education and a healthy dose of foresight. If you are looking for a job in the mortgage industry, check out Acra Lending.
This company has been around since 2007, and it aspires to be one of the best in its field. In addition to its traditional mortgage offerings, it also plans to enter the ground-up construction space.
- As for the name, you may be interested to know that Acra Lending has a network of offices across the country, as well as in a few major markets. Although the company is still a relative newcomer, it has already garnered an industry-wide reputation for responsible lending methods.
- One of the most intriguing parts of this company is the plethora of programs it offers to its employees. For example, it will soon be offering a variety of innovative solutions for emerging market issues, such as small-balance multifamily property assets.
- Acra Lending also has a slew of impressive products and services, which include its signature Jumbo Prime mortgage solution and its suite of non-QM capital solutions. Its streamlined and simplified lending process will help borrowers and lenders alike achieve their goals. To learn more about this company, go to the website.
- One of the best features of Acra Lending is that its executives are very open to questions and concerns, both before and after the official orientation.
- During that time, the company also provides a suite of work equipment to facilitate the start of your career. During your orientation, you are likely to hear a bit more about the company’s history and future.
- Clearly, the mortgage industry is a competitive and exciting one, and it is one that you can find in almost any state, provided you are willing to look for it.
Those looking for a long-term, high-paying opportunity are encouraged to apply. Indeed, it’s a company that has seen plenty of growth in recent years, which is why it is currently recruiting talented mortgage professionals.
Among other things, the mortgage industry is also known for its large emphasis on customer service.
The company’s general counsel
Acra Lending offers innovative Non-QM capital solutions for the housing market. This lending platform connects investors with borrowers and helps both sides to navigate the complex financing process.
They offer a variety of services, including business loans, consumer loans, and non-QM mortgages. Their loan offerings are available through a network of offices in nine states.
- As a part of Acra Lending’s growth and expansion
they have created a need for a Legal Compliance Specialist. This individual will support the company’s Legal Department. Specifically, they will work with the company’s Legal Team to help them manage regulatory complaints and consumer and servicing complaints.
- An important member of the Legal Team
this person will be responsible for assisting with the creation of legal documents, analyzing website and marketing content, addressing loan complaints, and managing regulatory complaints. In addition to these tasks, this person will also analyze social media content.
- Acra Lending provides four distinct verticals, each with its own unique challenges and opportunities. The company is particularly focused on the construction and ground-up development space.
- With this, the company will play a key role in addressing issues of housing shortage in the major markets.
- Among the company’s current goals is to provide access to capital for investors interested in buying small-balance multifamily property assets. Moreover, the company is developing new product offerings in several key sectors.
- Before joining Acra Lending, Russell S. Elmer was a Deputy General Counsel at PayPal Holdings Inc. He brings with him 25 years of legal experience.
Prior to that, he worked as a Deputy General Counsel at Lending Club from 2012 to 2014.
Despite his background in consumer finance, this position has allowed him to use his knowledge to help Acra Lending comply with regulations and defend clients against predatory lending claims, and credit card and mortgage origination disputes.
In addition, he enjoys the in-house work that he does.
While he may not be in the office every day, he still gets to work with other members of the team and will have the opportunity to ask the executive team and other senior leaders any questions that he has. These individuals are friendly and open to conversation when a problem arises.
There is no doubt that Acra Lending has come a long way since its early days as a subprime lender. Since then, the company has branched out into a plethora of products and services, from mortgages to fixed-rate loans to alternative income products.
One of the newest offerings is in the small balance multifamily space. Whether it is a single family home or a slew of multi-unit properties, the company’s dedicated professionals are on hand to negotiate private financing for investors.
make a significant impact on housing shortages in major markets. If this sounds like your kind of place, get in touch with the company’s experts to learn more about how they can help you achieve your real estate goals.