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.