Wells Fargo launches alternative lending programMortgagePress.comSub-prime lending, Wells Fargo
The Alternative Lending Division of Wells Fargo Home Mortgage
has introduced the Traditional Nonprime Program, which aligns
credit and pricing that focus on mortgage payment history and
credit scores for determining loan amounts and loan to value.
Features of the program include no minimum trade lines to 95
percent loan to value, loan amounts up to $2 million, an
interest-only payment option, full-doc, stated-income and bank
statement options, and compatibility with owner-occupied,
second-home and non-owner occupied properties.
San Francisco-based Wells Fargo Home Mortgage is the mortgage
lending division of Wells Fargo Bank NA. For more information, call
(800) 340-0465 or visit www.wellsfargo.com.