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.”