Verus News

What’s happening in the world of non-QM? Check out the Verus Mortgage Capital Blog for ideas and insights.

Are declined conventional/agency loan applicants eligible for a non-qm loan?

While the lower interest rates have been a surprise for mortgage lenders, there are still borrowers who do not qualify for conventional loans through the agencies (Fannie Mae/Freddie Mac). But are these prospective borrowers just out of luck or is there a responsible alternative for these creditworthy applicants? Let’s examine two common situations: Self-Employed –Read More

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

Verus Mortgage Capital Completes $372 Million Investor Loan RMBS Transaction

Largest INV transaction completed by investor Washington, D.C. – April 23, 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 10th rated RMBS (residential mortgage-backed securities) transaction for $372 million. Verus 2019-INV1 was VMC’s largest investor loan transaction to dateRead More

Verus Mortgage Capital Launches Newly Redesigned Website

Washington, D.C. – April 19, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has just launched a new website that has been completely redesigned to improve site visitors’ overall online experience. The new website, www.verusmc.com, features a fresh, modern design and includes a blog that offersRead More

Verus Mortgage Capital Finalizes $442 Million Non-QM MBS Transaction

Leading correspondent investor closes second largest non-QM MBS transaction in company history. Washington, D.C. – December 19, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has completed its seventh-rated RMBS (residential mortgage-backed securities) transaction for $442 million. The transaction is the second largest in VMC history,Read More

Verus Mortgage Capital Completes $254 Million Investor Loan MBS Transaction

Leading correspondent investor was the largest issuer of Non-QM/Investor loans in 2018! Washington, D.C. – February 5, 2019 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has finalized its eighth-rated RMBS (residential mortgage-backed securities) transaction for $254 million. The transaction was VMC’s fifth securitization in 2018. TheRead More

Who are the credit “invisibles” and how can you help them?

In the years following the 2008 financial crisis, many aspiring homeowners found that lenders’ underwriting requirements had increased to such a degree that many creditworthy borrowers were finding it difficult or impossible to qualify. Just over ten years later, the underlying challenges apparently still remain. The Urban Institute recently reported that over 45 million U.S.Read More

The Skinny on Jumbo Loans

The latest S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index reveals that overall home price growth continues to show signs of slowing, a good sign for homebuyers looking to break into the market. However, many metro areas posted above average price gains, and affordability in those cities is a major concern. For example, pricesRead More

Why so many loans are being rejected – and what to do about it

It certainly took some time, but a decade after the housing crisis, most analysts seem to agree that credit availability is slowly heading in the right direction. But if it seems like a large number of mortgage applications are still being rejected – many from creditworthy borrowers who simply don’t fit traditional guidelines – that’sRead More

Agency guidelines leave prospective homeowners on the sidelines

“Today’s average American home buyer is young, educated and becoming increasingly more diverse.” – Zillow There’s little doubt that the U.S. borrower base is rapidly changing and becoming more diverse. That diversity includes millennials, self-employed, investors, foreign nationals, and those with imperfect credit. Yet, despite some loosening, conventional lending guidelines have failed to keep paceRead More

Verus Mortgage Capital Finalizes $489.6 Million Non-QM MBS Transaction

Verus Mortgage Capital Finalizes $489.6 Million Non-QM MBS Transaction Fast-growing correspondent investor closes largest non-QM MBS transaction in a decade Washington, D.C. – September 5, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has completed its sixth rated RMBS (residential mortgage-backed securities) transaction for $489.6 million.Read More

Five Residential Mortgage Experts Join Verus Mortgage Capital

Five Residential Mortgage Experts Join Verus Mortgage Capital  Verus adds experienced team of specialists to expand Residential Transitional Loan (RTL) focus and other Investor programs Washington, D.C. – August 29, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM and investor lending solutions, has announced the addition of Ketan Parekh, JosephRead More

Verus Mortgage Capital Increases Loan Amounts to $5 Million and Debt-to-Income Ratios for Investor Solutions Program

Washington, D.C. – August 6, 2018 – Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM lending solutions, announced it has made updates to its Investor Solutions loan program. Loan amounts for all four of its Investor Programs increased from $2 million to $5 million. In addition, Verus’ bank statement programs and debtRead More

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 higherRead More

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 aRead More

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