SouthStar launches “Assured ARM†to provide consumers enhanced ARM choicesMortgagePress.comSouthStar Funding, Assured ARM, CLTV, credit scores
SouthStar Funding, a service-focused wholesale lender, has
launched its newest product, Assured ARM, in response to customer
demand. Based on the LIBOR index, Assured ARM is designed to
provide the stability of a 5-year ARM, as well as minimum-payment
and interest-only options for borrowers wanting to manage their
cash flow. The product offers features unique to the wholesale
mortgage market, including the ability to borrow up to 100 percent
CLTV, and to combine this product with a home equity mortgage as
part of a combination loan. SouthStar Funding provides 24-hour
underwriting on Assured ARM loans.
The excitement of our customers and our sales team about Assured
ARM has been the best reaction to a new SouthStar product in years,
said Brian Smith, EVP and national sales manager for SouthStar
Funding. Were unique in the market with Assured ARM, and in keeping
with our goal of providing superior personal service, weve added
ARM features that arent available anywhere else. Assured ARM
provides tremendous flexibility and gives our customers another
great solution for their borrowers.
Assured ARM is available for most property types, to borrowers
with credit scores as low as 620. In addition to standard full doc
and stated-income loans, Assured ARM offers NINA and NINEVA (no
income or employment verification, verified assets) doc types, as
well as a bank statement program. Loan amounts up to $3 million are
available.
For more information, visit www.southstar.com.
