Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
In July, Reverse Mortgage Funding LLC announced that it is offering its home-equity conversion mortgage for purchase certification program for broker partners.
The on-demand course helps third-party originators
improve their competitive advantage by becoming HECM For Purchase Certified experts.
RMF, a Mortgage Daily advertiser, promotes its services online at https://partners.reversefunding.com/.
A new wholesale partner channel has been launched by CoreVest, a Sept. 27 statement said. The channel will provide mortgage brokers with financing for residential investor properties.
Single-property rental loans are available from the
Irvine, California-based firm with 30-year fixed rates, up to 75 percent loan-to-value ratios and amounts up to $1.4 million.
CoreVest says its has already funded nearly $3 billion in investor loans. The new channel promises “a unique suite of investor loan products and a simple process that is fast, reliable and easy.”
Samuel Bjelac has been hired as vice president to run the wholesale channel, which is promoted online at www.corevestfinance.com/broker/.
Financing for ITIN undocumented borrowers is being offered by Greenbox Loans Inc. at up to a 90 percent LTV ratio, a recent marketing message stated. The property must be owner occupied.
Los Angeles-based Greenbox said the loan amount can be as high as $600,000. No credit score is required up to 75 percent LTV ratios, though non-traditional tradelines are required.
Greenbox touts it wares online at www.greenboxloans.com/wholesale-loan-programs/.
A marketing message form Citadel Servicing Corp. said
the wholesaler has a 90 percent LTV programs on purchases with no private mortgage insurance.
Citadel will lend 24 months after a foreclosure, short sale or bankruptcy. Bank statements are acceptable for income. The maximum debt-to-income ratio is as high as 50 percent.
Information about Irvine, California-based Citadel is online at www.citadelservicing.com/resources/become-a-csc-partner.
Parsippany, New Jersey-based AFR Wholesale announced on Aug. 11 its 10-year anniversary. AFR reports a network of more than 1,000 mortgage brokers and correspondents. The company is online at www.afrwholesale.com.
PennyMac Financial Services Inc. reported in its earnings presentation that United Wholesale Mortgage ranked as the largest wholesale lender during the first quarter with $4.5
billion in production. Caliber Home Loans Inc. followed with $2.7 billion, then Stearns Lending LLC at $1.8 billion, loanDepot LLC with $1.5 billion and Union Bank at $1.4 billion.
