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, credit scores down to 700, cash-out up to $500K, 90% LTV, and PMI is not required. Primary, second homes and investment properties are all eligible.
As the nation’s largest issuer of securitizations backed by non-QM loans, VMC serves as a mortgage investor that uses its experience to help lending partners grow their non-QM business.
“We’re demonstrating our commitment to the non-agency space by continually developing programs that can help lenders server more borrowers,” said Dane Smith, President of VMC. “Our Prime Jumbo Program is further evidence of this as we are now better positioned to assist lenders for borrowers who need larger loan balances.”
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 credit worthy borrowers.
The Washington, D.C.-based company, with operations located in Minneapolis, has purchased in excess of $10 billion in expanded, non-agency loans since its inception. In addition, through its affiliates, VMC has completed 20 rated securitizations. Mortgage bankers can learn more about VMC’s investor products by visiting www.verusmc.com.