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Wells Fargo launches alternative lending program

National Mortgage Professional
Mar 24, 2014

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.

Mar 24, 2014