Rate Announces Record-Breaking Non-QM Loan Performance with Proprietary "Edge Non-QM" Product Suite

CHICAGO, Jan. 16, 2025 /PRNewswire/ -- Rate, a leading financial services provider in the mortgage industry, is proud to announce an unprecedented achievement in its Non-QM (non-qualified mortgage) loan offerings: Marking its best year ever, the company funded over $2.8 billion in 2024.   

Launched in January 2024, Rate's proprietary Non-QM product suite, "Edge Non-QM," has been a major driver of this success, with $1.3 billion in funded loans. This growth underscores Rate's commitment to providing inventive financial solutions to credit-worthy borrowers who fall outside traditional mortgage guidelines.

"Rate is dedicated to creating flexible mortgage solutions for borrowers, and the company's offerings extend well beyond conventional agency and government loans," said Kate Amor, EVP and Head of Enterprise Products for Rate. "Those watching the space know Rate stands strong at the forefront of Non-QM, continuously refining its product offerings with award winning technology to achieve a turn time below the industry standard."

The upward trend in Non-QM loans has accelerated in the post-pandemic economy, catering to non-traditional income types and diverse financial situations.  "Non-QM lending has seen significant growth, a trend that started before the pandemic and has only gained momentum as the economy adjusts to new financial realities," continued Amor. "Rate's strategic focus on this segment highlights our always-on ability to adapt and lead in any market dynamic."

It's this focus and determination that makes Rate a top destination for Loan Officers across the nation.  "Loan Officers specializing in Non-QM are turning to Rate for our focus on coupling innovative products with best in market technology towards the singular goal of elevating their business," adds Jeremy Collett, Chief Capital Markets Officer for Rate.

 About Rate
Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate is the #2 retail mortgage lender in the U.S., with over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire's Tech100 award for the company's industry-leading FlashClose℠ digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; No. 2 ranking in Scotsman Guide's 2022 list of Top Retail Mortgage Lenders; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine's Lender of the Year for seven consecutive years; and Chicago Tribune's Top Workplaces list for seven straight years. Visit [rate.com](https://www.rate.com) for more information.

SOURCE Rate