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Caliber Home Loans Inc. has announced that it has expanded its Fresh Start Program to allow more eligible and qualified borrowers to realize their goal of homeownership. Caliber's Fresh Start Program is a specialized mortgage solution designed specifically for self-employed business owners and borrowers who have experienced a recent life or credit event, or investors that are currently unable to find a program in the marketplace that meets their needs as they work to re-establish a strong credit history. Under the guidelines of the expanded program, more creditworthy borrowers who have experienced a credit or life event, as recently as within the past year, may now meet the requirements to receive a loan.
"Since we launched the Fresh Start Program earlier this year, we have received an excess of positive feedback from borrowers that took advantage of the opportunity to realize their goal of homeownership," said Joe Anderson, chief executive officer of Caliber Home Loans Inc. "Based on the success of Fresh Start, Caliber has decided to expand the program to meet the financing needs of even more customers, all while maintaining our commitment to robust underwriting procedures and world-class lending standards."
"Since the financial crisis, credit has been extremely tight, which has restricted the availability of mortgage products in the marketplace," said William Pendleton, senior vice president of Specialty Lending. "As a result, many qualified borrowers have been effectively prevented from attaining home financing for the past several years. Our innovative Fresh Start Program provides mortgage financing that extends beyond the limitations of traditional agency loan qualification standards for borrowers who can contribute equity and demonstrate their ability to repay. We are very excited about this expanded offering and look forward to working with our realtor, builder, broker and correspondent partners to help more creditworthy individuals achieve their homeownership goals."