MortgageOne TPO, a wholesale mortgage lender and Department of the Treasury-certified Community Development Financial Institution (CDFI), has integrated with the ARIVE platform and launched Pathway, a flagship CDFI loan program aimed at borrowers underserved by traditional mortgage guidelines, the company announced.
We were seeking a proven leader who could drive Logan's correspondent business forward, and we found that in Chuck Vaughn, said Aaron Samples, the company's chief operating officer. Chuck's expertise in correspondent sales and capital market execution will be crucial in advancing our growth and establishing Logan as the partner of choice for correspondent lenders. Vaughn most recently worked at SpringEQ as part of its capital markets and correspondent sales, per his LinkedIn profile.
We just came off a record month, and this month (October) is on pace for another all-time record. I would say the drivers have been non-agency loans or non-QM. So if you look at just non-agency estimates earlier in the year, people were forecasting a range of $60 billion to $70 billion in non-QM. We're probably hit over $100 billion this year, so a 50% beat from the beginning of the year.
The series, which expands upon Logan's preexisting non-QM offerings, involves seven specialized Non-QM mortgage solutions designed to help brokers and correspondents serve borrowers who fall outside conventional lending guidelines.