Verus Mortgage Capital Introduces Prime Ascent Plus

Washington, D.C. – December 4, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, announced the launch of Prime Ascent Plus, a higher balance loan program for applicants with alternative income documentation.

The following features are available to choose from:

  • LTVs up to 90%
  • FICOs down to 660
  • 24-month standard documentation options
  • 12- and 24-month alternative documentation options for self-employed borrowers
  • 24-month Alt Doc 1099
  • DTI up to 50%
  • Loan amounts from $150k to $2.5mm

Prime Ascent Plus is available for second homes, investment properties, and interest-only loans. There are cash-out options as well.

Verus’ Executive Vice President of Correspondent Sales, Jeff Schaefer, believes this new program will answer many needs in the marketplace. “There is a significant number of creditworthy individuals that need higher balance loans but struggle with qualifying for one reason or another. Our new Prime Ascent Plus Program is inherently flexible which makes it a suitable option that lenders can confidently offer their borrowers.”

 

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-agency market. It offers correspondent lenders a wide range of home financing products for creditworthy borrowers.

The Washington, D.C.-based company, with operations located in Minneapolis, has purchased in almost $6 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed 13 rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.

###

Applications Down? Verus Mortgage Capital Shares Two Reasons Lenders Should Consider Non-QM Now

Mortgage rates have increased nearly half a point since January. According to the MBA weekly survey, mortgage applications have fallen in eight of the last nine weeks. Rising rates have led to less refinancing activity. In mid-February, their share of mortgage applications dropped below 70% for the first time since October 2020. The purchase marketRead More

Verus Mortgage Capital Leads Industry Back into Non-QM Lending

With $2.6 billion in securitization volume in 2020, leading non-QM issuer offers liquidity  Washington, D.C. – February 22, 2021 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, announced that in 2020 it financed nearly $2.6 billion of loans across six-rated and one unrated securitization transactions. As theRead More

Verus Mortgage Capital Launches Loan Scenario Tool

Washington, D.C. – October 16, 2020 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor rental programs, has launched a new loan scenario tool on its website, www.verusmc.com. The scenario tool allows mortgage lenders to enter information including their borrower’s credit score, LTV, loan amount, property type and more. AllRead More

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