Danica Patrick to introduce new Argent alt-A productsMortgagePress.comAlt-a mortgages
Argent Mortgage Company LLC is expanding its reach in the
mortgage industry by introducing a new line of alt-A products. The
addition of this new product line will increase the already wide
range of mortgage products offered by Argent while, at the same
time, broadening the company's customer base.
The Alt-A Advantage and Alt-A 80/20 Advantage programs became
available to Argent-approved brokers on July 17. Argent is not the
only non-prime lender that has moved into the alt-A market in
recent years; however, what distinguishes this product line from
the competition is the level of support and speed of service that
Argent delivers.
"Our alt-A products will be serviced by the same responsive
Argent team our brokers have come to know and appreciate," said Sam
Marzouk, president of Argent. "Argent will not miss a beat, whether
it is funding the new alt-A product, a non-prime loan or both.
Under our long-standing Argent service guarantee, brokers receive
an answer on their loan requests in 24 hours or our fee is cut in
half."
To promote the Alt-A Advantage and Alt-A 80/20 Advantage
programs, Argent will use Danica Patrick, 2005 Indy Racing League
Rookie of the Year, to illustrate the defining characteristics of
its new products with the same outstanding services.
"Danica represents innovation, speed and teamwork, the same
attributes that have set Argent apart from its competitors in the
non-prime sector and now the alt-A market," said David Stark,
executive vice president of marketing for Argent.
An expanded product line is the latest example of how Argent
strives to provide greater value to more than 200,000
Argent-approved brokers. The Alt-A Advantage and Alt-A 80/20
Advantage are designed specifically to expand the range of options
Argent-approved brokers can provide to borrowers at competitive
prices.
Major characteristics of Argent's Alt-A Advantage and Alt-A
80/20 Advantage products include:
• Loan amounts up to a maximum of $2 million;
• Fully amortized fixed mortgages with 15- or 30-year payment
terms, interest-only options for five- and 10-year terms, and
adjustable-rate mortgages at three-, five- and seven-year
terms;
• Owner-occupied, second home or investment properties;
• Minimum FICO score of 680; and
• Considers only two-year bankruptcy and three-year
foreclosure history.
The Alt-A Advantage and Alt-A 80/20 Advantage products also
present advantages to investors, who will be able to choose from a
more diverse portfolio at Argent.
For more information, visit www.argentmortgage.com.
