MLN Enters Sub-Prime MarketMortgagePress.comSub-Prime, Mortgage Lenders Network USA Inc., 600+ risk score
Mortgage Lenders Network USA
Inc. (MLN) has announced that it is expanding its sales force
and its products in the 600+ risk score sub-prime mortgage market.
New programs, pricing and processes have resulted in increases in
wholesale loan submissions. The company's monthly production is up
more than 50 percent from the second quarter of 2002, which has
intensified the growth of the national sales force.
Specifically, MLN has expanded the guidelines for its Alpine, Summit and Xtreme
products. Changes include eliminating the requirement for a
verification of mortgage/verification of rent on 620+ FICO
products, increasing loan size limits and the maximum
debt-to-income ratio on its Summit and Xtreme products, reducing
business verification requirements on 620+ FICOs and increasing the
loan-to-value cap on non-owner occupied loans on its Alpine
For more information, visit www.mlnusa.com or call (888)