PRMG’s Paul Jones featured in Inside Nonconforming Markets Article!
May 12th, 2023, BY PRMG MARKETING
”We’re just kind of opening the door to an underserved population where we see there is sometimes just a lack of opportunity” – Paul Jones
Director of Non-QM Business Development, at PRMG, Paul Jones speaks up about the underserved population of entrepreneurs in the Cannabis business.
Inside Nonconforming Markets recently put out an article that details why Cannabis owners are having a hard time purchasing a home. They interviewed Paul Jones to get his take on the issue.
Although cannabis is legal for recreational use in 22 states and medically approved in 40 states, according to federal law, its label as a Schedule I substance deems any monetary earnings illegal. Because of this, traditional banks and many mortgage lenders do not want to provide any services to these business owners for fear of prosecution. Meanwhile, Paramount Residential Mortgage Group, Inc. had a different perspective and started to market its non-QM product as an option to workers in the cannabis industry late last year.
Paul Jones indicated that the newly marketed feature of non-QM loans offers a new pathway to owning a home for borrowers who otherwise wouldn’t be able to make this dream become a reality. ”We’re just kind of opening the door to an underserved population where we see there is sometimes just a lack of opportunity,” Jones said.
“We are very proud to have Paul Jones heading up non-QM for PRMG. There is no question he will continue to grow the division and resonate with originators in all channels we serve as the resident expert in the non-QM space of the mortgage industry”, said Paul Rozo, CEO PRMG
In 2023, Paul continues to spread the good word about non-QM through a series of live and virtual seminars he holds where he educates originators and broker partners to have a better understanding of the product offering, including strategies and marketing techniques to help them grow their referral base
PRMG is dedicated to the mission of being “Progressively Better in All that We Do.”
To speak with Paul Jones and learn more about PRMG’s non-QM offering email: PJones@prmg.net or phone: 951-284-4628.