Skip to main content

Verus Mortgage Introduces New Prime Ascent Plus Offering

NationalMortgageProfessional.com
Dec 09, 2019
Verus Mortgage Capital (VMC) finished 2019 strong, recently finalizing its 14th and 15th rated Residential Mortgage-Backed Securities (RMBS) transactions for $533.5 million and $680.7 million respectively

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.”

 
Published
Dec 09, 2019
Fidelity National Financial Hit By Cyberattack

Industry-leading provider of title insurance and settlement services radio silent on reported breach.

Nov 28, 2023
Citizens Bank Bids Farewell To Wholesale Mortgage Channel

In a strategic pivot, the Providence-based banking giant will stop accepting new wholesale mortgage submissions.

Nov 16, 2023
Surprising Surge In Mortgage Customer Satisfaction, J.D. Power Study Reveals

Study found first-time homebuyers were harder to satisfy, customers don't just shop rates.

Nov 16, 2023
Women Continue To Defy Homebuying Challenges, Representing 22% Of The Market, Survey Finds

Young, educated, diverse, and increasingly savvy, women homebuyers navigate homeownership hurdles with determination.

Nov 15, 2023
Better.com Stays Bullish On Industry Disruption Amid Q3 Losses

Despite a $340 million Q3 loss, Better.com's leadership emphasizes cost reductions, automation, and investment in technology.

Nov 15, 2023
Fannie Mae Extends Rent Payment Pilot

Positive Rent Payment program offers financial stability and opportunities.

Nov 14, 2023