Verus Mortgage Capital Moves Correspondent Operation to New Office Space

Washington, D.C. – April 13, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-agency lending solutions, announced it has moved its Minneapolis operations group.

VMC’s new space is approximately four times larger than its previous location with the opportunity to expand its square footage in the future.

The move was a direct result of the tremendous growth VMC has experienced since its inception in 2015, doubling in volume every six to nine months. Within the first quarter of 2018 alone, it purchased approximately $400 million in non-agency mortgage loans. VMC doubled its workforce in the last year as it continues to build out its operations.

While the firm’s headquarters is located in Washington, D.C., it continues to base its operations group in Minneapolis to take advantage of the city’s experienced mortgage talent.

“Rapid growth in the non-QM business has forced us to move to a new location that could accommodate our future expansion,” said Dane Smith, President of VMC. “Our goal is to remain the premier correspondent investor for expanded non-agency and investor loans by providing originators with the most comprehensive suite of products and exceptional customer service.”

About Verus Mortgage Capital

Founded in 2015, Verus Mortgage Capital (VMC) is a non-agency correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Colombia and offers a wide range of home financing products to correspondent lenders, many with unique features created in response to the expressed needs of its mortgage banking customers and their borrowers. The Washington, D.C.-based company, with operations located in Minneapolis, has purchased just under $2 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed four rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com

 

CONTACT: Amy Hansen

Seroka Public Relations

414-520-5680

amy@seroka.com

Uniform Residential Loan Applications Delayed and Will Not Begin July 1, 2019

At the direction of the Federal Housing Finance Agency (FHFA), Fannie Mae and Freddie Mac (the government-sponsored enterprises, or GSEs) are communicating that the optional use period for the redesigned Uniform Residential Loan Application (URLA) form and corresponding datasets will not begin on July 1, 2019 as previously scheduled. Download pdf version.

Verus Mortgage Capital Completes $609.2 Million RMBS Transaction

Top non-QM securitizer pushes volume to approximately $4 billion Washington, D.C. – June 12, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 11th rated RMBS (residential mortgage-backed securities) transaction for $609.2 million. The transaction was comprised of 1,204 loansRead More

Verus Mortgage Capital Expands Investor Solutions and Renovation Loan Program

Washington, D.C. – June 6, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, has announced updates to its short-term business purpose that will simplify processes for lenders substantially. Verus’ expanded RTL program has several new benefits: Clarity for lenders on what the exact upfrontRead More

comment-alt-dotsflipgeometric-patternmoreverus-logoverus-mverus-v-purple-bgverus-v-purple-bgverus-vverus-v-red-bgverus-v