360 Mortgage Group has announced it is entering the top tier mortgage market with an aggressive pricing program named Conforming Elite. This new program was developed because of high demand from the mortgage broker community to further extend their relationship with 360 Mortgage beyond HARP-related products. The Conforming Elite program is part of the company’s ongoing commitment to the wholesale channel and its focus on offering the right mix of products with the most competitive pricing to help mortgage brokers grow their business.
“The introduction of our Conforming Elite program now positions 360 Mortgage as the one-stop/go-to wholesale lender for both top tier mortgage products and higher LTV loans such as HARP,” said Mark Greco, president and founder of 360 Mortgage. “Mortgage brokers partner with 360 Mortgage because of our total value approach, which includes easy-to-use and efficient technology, product knowledge and best-in-class service. With the introduction of our Conforming Elite program, mortgage brokers now can benefit from two additional key value propositions, an expanded product portfolio and the most competitive pricing in the wholesale channel, to help clients with top credit scores and low LTV purchase or refinance of a home.”
Key Guidelines for Conforming Elite Program:
►30-year and 15-year fixed loans
►Loan limit of $417,000
►SFR or PUD property type.
►Primary or a second home
►Maximum LTV is 80 percent
►Minimum FICO is 720.
►Agency cash out not permitted (TX A6 are eligible if the new transaction is not an agency cash out).
►No subordinate financing on the subject property.