Loans that are labeled “non QM” mean that are outside of the compliance guidelines determined by the CFPB, thus requiring most lenders to manage the risks of these types of loans themselves. Doing so, however, they can provide more flexibility to borrowers who, for one reason or another, might not qualify for the other traditional loan productions.For example, self-employed or recently retired borrowers, or individuals with a short credit history or flawed credit from a past short sale or foreclosure may be eligible or those who seek a jumbo loan with a longer term.