Non-conforming loan
A non-conforming loan is a loan that fails to meet bank criteria for funding. Reasons include lack of sufficient credit, the unorthodox nature of the use of funds or the collateral backing it. In many cases, non-conforming loans can be funded by hard money lenders, or private institutions/money. The flexibility of private money can allow for a much wider range of deals to be funded, although more detailed and substantive collateral and documentation may be required by a lender.
See alsobridge loanhard money
External links Non-Conforming Loans, as related to hard money. FannieMae, government backed loan requirements and information.
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