Sprout Mortgage Resumes Correspondent Lending Operations
Sprout will offer four loan programs that will target the needs of borrowers across a broad spectrum.
After revealing updates to its Non-QM program back in mid-June, Sprout Mortgage announced the reopening of its correspondent lending channel. With it, Sprout will offer four loan programs that will target the needs of borrowers across a broad spectrum.
The offerings include:
- J10 – Select Jumbo Full Doc – For income documented with pay stubs and tax returns, up to $4M, maximum 85% LTV
- A10 – Select Bank Statement or 1099 - For self-employed borrowers, up to $4M, maximum 85% LTV
- A11 – Select Asset Optimizer – For high net-worth borrowers, up to $4M, maximum 80% LTV
- I10 – Inve$tor Debt Service Coverage – For 1-4 unit investment properties, up to $2.5M,
maximum 70% LTV
"While our loan programs have been re-engineered for today’s markets, our commitment to make non-QM mortgages easy and convenient for our clients remains a top priority for Sprout," said Michael Strauss, president.
"Our Select and Inve$tor programs, a team of experienced account executives, and Sprout’s ... technology all combine to let our clients deliver the right mortgage to each of their borrowers," added Shea Pallante, Sprout’s chief production officer.
Learn more about Sprout's loan programs.