Verus Mortgage Capital, a full-service correspondent investor offering residential non-QM and investor rental programs, has begun purchasing non-QM loans again after a pause since the beginning of the COVID-19 pandemic. It is again investing in new origination and pre-pandemic loans.
Verus provides lenders with non-delegated, delegated with pre-funding review or bulk loan delivery options. It purchases loans in all 50 states and its offerings include LTVs up to 90%; cash out up to $500k; full and alternative documentation; and foreign national.
“We are seeing an increased interest in these programs as we have already completed four securitizations since the beginning of the pandemic,” said Dane Smith, president of VMC, in a news release.
Founded in 2015, Verus
is a non-QM correspondent investor backed by the investment firm Invictus Capital Partners. It purchases loans in all 50 states and the District of Columbia and focuses on the non-agency market. The Washington, D.C.-based company, with operations located in Minneapolis, has purchased in excess of $9 billion in expanded, non-agency loans since its inception.