Verus Mortgage Introduces New Prime Ascent Plus Offering

Dec 09, 2019

Verus Mortgage Capital (VMC), a full-service correspondent investor offering residential non-QM, investor rental and fix-and-flip loan programs, has announced the launch of Prime Ascent Plus, a higher balance loan program for applicants with alternative income documentation.

Through Prime Ascent Plus, the following features are available to choose from: LTVs up to 90 percent; FICOs down to 660; 24-month standard documentation options; 12- and 24-month alternative documentation options for self-employed borrowers; 24-month Alt Doc 1099; DTI up to 50 percent; and loan amounts from $150,000-$2.5 million.

Prime Ascent Plus is available for second homes, investment properties and interest-only loans. There are cash-out options as well.

“There is a significant number of creditworthy individuals that need higher balance loans but struggle with qualifying for one reason or another,” said Verus Executive Vice President of Correspondent Sales Jeff Schaefer. “Our new Prime Ascent Plus Program is inherently flexible which makes it a suitable option that lenders can confidently offer their borrowers.”

About the author

NationalMortgageProfessional.com

Link copied

Published

Dec 09, 2019

Analysis and Data

Redfin: Homebuyers Gain Leverage, But Pending Sales Keep Sliding

Pending sales fall 16.4% from a year ago despite lower home prices and mortgage payments, as sellers retreat from a weakening market

Home prices are falling. Mortgage payments are easing. Sellers are becoming more willing to negotiate. Yet the housing market keeps losing buyers.Pending home sales fell 16.4% year over year during the four weeks ending Nov. 1, reaching their lowest level in Redfin's weekly ...

Tech

New AI-Run Mortgage Startup Builds Database Of 224,000 LOs

LenDb.ai is making LO records available to AI assistants, offering a potential new way for borrowers to find originators

A new mortgage technology startup is betting that borrowers will increasingly turn to artificial intelligence to find a loan originator, and it wants to make sure AI knows whom to recommend.LenDb.ai, launched Thursday by venture studio Draper Goren Blockchain, has assembled ...

Feb

Palm Springs, CA

More from

Industry News

Fed Holds Rates, But Pricing Pressures Persist

Rising Treasury yields and fresh inflation data complicate rate locks, borrower qualification, and lender margins as markets anticipate another hike in December

Industry News

Oct 29, 2026

Zippy Adds Capital For Manufactured-Home Lending Push

The $20 million investment from Saluda Grade will support expansion beyond 27 states and new loan products across wholesale, retail, and community channels

Industry News

Oct 16, 2026

Inflation Hits 3.7%, Putting Mortgage Rate Relief At Risk

September’s inflation pickup puts recent rate improvements at risk, potentially eroding affordability gains from lower home prices and seller concessions

Industry News

Oct 14, 2026

PLACE Acquires Ardley, Expanding Push To Turn Existing Borrowers Into New Loans

The latest deal connects borrower retention technology with Maxwell's origination platform and PLACE's real estate network, creating new opportunities for lenders

Industry News

Oct 09, 2026

Equifax, TransUnion Launch New Tools To Cut Credit Report Costs

Both bureaus introduce ways to purchase credit scores separately from reports, while Equifax reports growing VantageScore adoption and extends $1 pricing through 2028

Industry News

Oct 09, 2026

Newrez, eXp Realty Form Joint Venture To Target Purchase Business

Revenos Mortgage is set to launch in early 2027, replacing eXp's joint venture with Kind Lending

Industry News

Oct 08, 2026

Popular