Skip to main content

Union Home Mortgage Launches Non-QM Product Offering

NationalMortgageProfessional.com
Aug 14, 2018
Union Home Mortgage has announced plans to expand its footprint with the hiring of Daniel Spaulding as regional manager of the upper Midwest region

Union Home Mortgage (UHM) has announced the launch of Simple Access, a suite of mortgage products that offers full and alternative documentation loans to borrowers under expanded underwriting guidelines. Simple Access products are now available across UHM’s retail and consumer-direct divisions.
 
Designed for borrowers not eligible for agency loans or who present sound credit risk, Simple Access uses a common-sense approach to underwriting.
 
As a non-QM offering, Simple Access allows qualifying characteristics not traditionally accepted for conventional products. Documentation requirements are progressive and have been adjusted to successfully qualify borrower profiles, including foreign nationals, residential property investors, non-warrantable condo purchasers and applicants without access to income statements.
 
In lieu of income statements, applicants may provide bank statements or investors may demonstrate positive cash flow on an investment property to qualify. Furthermore, U.S. citizenship is not required for some programs.
 
“Simple Access is a big win for borrowers–and for UHM,” said Union Home Mortgage Chief Executive Officer Bill Cosgrove. “It opens the door to homeownership for more borrowers across the U.S., not to mention a smoother mortgage experience. Hand-in-hand with our in-house process, Simple Access will streamline the experience and grow our world-class service for homeowners.”


 
Published
Aug 14, 2018
Sagent Appoints Thompson As Chief Product Officer

Founder of fintech managment consulting firm Consigliera will lead and expand product development.

Industry News
Jan 20, 2022
Total Expert Appoints Gaydos As President

Former Talkdesk and SAP senior executive brings extensive cloud, go-to-market, sales, and operations experience.

Industry News
Jan 20, 2022
400 Mortgage Loan Originators Caught Trying To Skip School

400 mortgage loan originators nationwide deceptively claimed to have completed their annual continuing education as required by state and federal law.

Industry News
Jan 19, 2022
Infamous Better.com CEO Is Back And Employees Are Upset

After a month-long hiatus or “break” as Garg likes to call it, the CEO is back at the helm of the company.

Industry News
Jan 19, 2022
Capacity Closes $38M In Series C Funding, Surpasses $62M In Total Capital Raised

AI-powered automation platform, Capacity, announced an additional $27 million in Series C funding, closing out the round at more than $38 million.

Tech
Jan 19, 2022
Millennials Are Still Powering The Housing Market

First American Financial Corporation's Potential Home Sales Model for Dec. 2021 revealed that millennial demand is propelling the housing market, thanks to low rates and increased geographic flexibility.

Analysis and Data
Jan 19, 2022