The Box Just Got Bigger: Inside MAXEX’s Latest Non-QM and DSCR Guideline Expansion

On October 5, 2026, MAXEX rolled out the largest guideline update in our history. The changes open new property types, new borrower profiles and simpler documentation across our Non-QM and DSCR programs.

For sellers, that means more of the loans your originators are already seeing can now find a home on the exchange. Here’s what changed, what the file needs to show, and where to go with questions.

What’s new

DSCR: more ways to qualify investors

• Lease income up to 125% of market rent. When the lease exceeds market, show the two most recent consecutive months of receipt.
• First-time investors are eligible. 700 FICO, 1.00 DSCR, 80% LTV, $1M max loan and 3 months’ reserves.
• Vacant refinances after renovation. Qualify on the lower of market rent or an active rental listing; 75% LTV rate/term, 70% cash-out.
• Large deposits no longer need to be sourced.

Non-QM: simpler documentation, more flexibility

• Asset qualification on standard Non-QM. Qualified assets divided by 60 months become monthly qualifying income, and can be combined with other income.
• DTI up to 55% on select programs, per the matrix.
• One-year full documentation is now an option.
• No CPA letter or cash-flow analysis for business asset withdrawals.
• Departing residence payment excluded with an executed sales contract and cleared financing contingencies.

New property types

• Condotels. Eligible when the condotel designation is the only non-warrantable reason, with a fully functioning kitchen and at least one separate bedroom.
• Non-warrantable condos. Eligible when the project is non-warrantable for only one reason.
• 5–10 units and mixed use (DSCR). Available to delegated sellers for experienced investors, up to $3M on 5–9 units and $4.5M on 10 units and mixed use.

Get started

1. Bookmark maxex.com/sellers. Every guideline, matrix and the Non-QM & DSCR Scenario Guide live there.
2. Read the update summary. Pages 2–4 of each guide list every October 5 change, section by section.
   1. MAXEX Non-QM Guidelines
   2. MAXEX DSCR Guidelines
3. Watch the replay. Our October Credit & Process webinar walks underwriters and ops teams through the changes on the MAXEX Insights channel.
4. Bring us your scenario. Have a file that didn’t fit before? Send it to the Deal Desk today.

MAXEX Deal Desk: dealdesk@maxex.com · 888-838-8664 · Mon–Fri, 9 a.m.–7 p.m. ET