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For people living in the U.S.’s priciest regions, Jumbo loans have become a necessity.
Non-agency/non-QM Deephaven Mortgage announced a new jumbo-prime loan product, as it looks to help mortgage banks and brokers compete for high-net-worth borrowers.
Kroll Bond Rating Agency assigned preliminary ratings to 56 classes of mortgage pass-through certificates from Oceanview Mortgage Trust 2021-3.
The program accepts FICOs as low as 680, DTIs as high as 45% and LTVs as high as 89.9%
A&D Mortgage’s Prime Jumbo product is an automatic underwriting system-only loan.
The new product is available on purchases, rate/term refinances and cash outs as well as secondary residences and investment properties.
Rocket Pro TPO claims that broker partners now have the ability to offer their clients a jumbo product with the same simplicity, speed and certainty as if they were receiving a Fannie Mae-backed loan.
The program is designed as an extension to their suite for purchase or refinance of higher valued properties.