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