Parkside Lending LLC
has announced that it has expanded its offering to include Mortgage by Fannie Mae, an affordable lending option for low- to moderate-income borrowers, providing home loans for those who otherwise may not qualify for a conventional Fannie Mae loan. The guideline highlights include lower downpayment requirements, flexible income from non-traditional sources, and reduced MI coverage for FICOs 680 or higher that can be removed before the life of the loan.
“As a company that is exclusive to the Wholesale and Non-Delegated Correspondent Channels, Parkside’s top priority is to provide mortgage professionals with a wide range of products that meet their borrowers’ varying needs,” said James Lamparter, executive vice president of Sales for Parkside Lending. “We care that there are options for creditworthy borrowers of any circumstance. Combined with our recently expanded FHA guidelines, adding HomeReady allows Parkside to support an even broader segment of the mortgage market.”