Verus Mortgage Capital Increases Loan Amounts

Verus Mortgage Capital Increases Loan Amounts

August 13, 2018
Verus Mortgage Capital (VMC), a correspondent investor offering residential non-QM, investor rental and fix and flip loan programs, has finalized its 11th rated RMBS (residential mortgage-backed securities) transaction for $609.2 million
Verus Mortgage Capital (VMC) has announced that it has made updates to its Investor Solutions loan program. Loan amounts for all four of its Investor Programs increased from $2 million to $5 million. In addition, Verus’ bank statement programs and debt service coverage ratio now go up to 80 percent from 75 percent and its debt-to-income ratios have increased from 43 percent to 50 percent.
All Verus Investor Solutions loans feature: DSCR/Property cash flow underwrites available; interest-only availability; cash-out options; closing as a corporation or LLC; unlimited number of finance properties; and Foreign Nationals allowed.
“At Verus Mortgage Capital, we’re committed to providing lenders with solutions for their investment property borrowers that are underwritten to borrower or property income,” said Dane Smith, President of VMC. “Our focus is to offer lenders expansive options to meet the needs of unconventional borrowers.”