Stonegate Mortgage to Expand Its Non-Agency Product Offerings

Stonegate Mortgage Corporation has announced that it will expand its offering of non-agency mortgage products. These new product offerings will be accessible through Stonegate Mortgage’s retail, wholesale and correspondent channels.

“We are very pleased to release this series of non-agency mortgage products. In order to remain a leader in the mortgage industry, Stonegate Mortgage will continue to deliver high quality service for customers, and continually expanding our product offering contributes to our efforts to satisfy our customers’ needs,” said Lisa Rogers, executive vice president of loan origination for Stonegate Mortgage Corporation.

Stonegate Mortgage’s release of Select ARM and Expanded Fixed Rate products represents a significant expansion of the non-agency product suite. Select ARM products offer 90 percent LTV with no mortgage insurance (MI) up to conforming limits, including high-balance limits in applicable areas. The Expanded Fixed Rate products include loans to $5 million in select areas, 85 percent LTV (No MI) to $2 million, cash out refinance to 75 percent LTV, investment properties to 70 percent, cash out amounts to $1 million, and second homes to 80 percent LTV.