Verus Mortgage Capital Increases Loan Amounts to $5 Million for Multiple Non-QM Programs

Verus Mortgage Capital Increases Loan Amounts to $5 Million for

Multiple Non-QM Programs

Investor also raises LTVs for Interest-Only Loans

Washington, D.C. – July 10, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-prime lending solutions, announced increased loan amounts to $5 million for several of its non-QM programs, and higher LTVs for interest-only loans. VMC has increased loan amounts for:

  • Investor Solution Full Documentation, Self Employed and Foreign National programs, from $2 million to $5 million, starting at $75,000.
  • Credit-impaired borrower loans from $2 million to $5 million, starting at $100,000, through the Credit Ascent program.
  • Higher-balance loans offered with alternative documentation for self-employed individuals from $3 million to $5 million, starting at $150,000 through the Prime Ascent program. Prime Ascent interest-only loan LTVs increased from 80% to 85%.

“At Verus Mortgage Capital, we’re dedicated to building the non-QM market. We are committed to offering lenders flexible funding options for underserved borrowers who don’t fit into the conventional profiles,” said Dane Smith, President of VMC. “Right now, non-QM lending is a huge opportunity for lenders to grow their businesses and provide solutions to fill a very real void in our industry.”

About Verus Mortgage Capital

Founded in 2015, Verus Mortgage Capital (VMC) is a non-QM correspondent investor backed by Invictus Capital Partners, a leading investment firm. VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-QM market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased just under $2.4 billion in expanded, non-QM loans since its inception. In addition, through its affiliates, VMC has completed five 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

Verus Mortgage Capital New Prime Jumbo Program

Washington, D.C. – September 22, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, has just introduced its new Prime Jumbo Program that offers low rates for high-valued homes where loan balances exceed agency limits. VMC’s Prime Jumbo Program’s features include loan amounts up to $3 million,Read More

How to respond to conditions

This short video will review how to respond to conditions pre and post close.

How to submit bank statements

Watch this short video for instructions on how to submit bank statements to Verus.

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