Private lender 360 Mortgage Group reports that it is entering the top tier mortgage market with an aggressive pricing program named Conforming Elite.
The new program was developed as a result of demand from the mortgage broker community for 360 Mortgage to expand its offerings beyond HARP-related products.
- The parameters for the program are as follows:
- 30-year and 15-year fixed loans;
- Loan limit of $417,000;
- SFR or PUD property type;
- Primary or a second home;
- Maximum LTV is 80%;
- Minimum FICO is 720;
- Agency cash out not permitted (TX A6 are eligible if the new transaction is not an agency cash out); and
- No subordinate financing on the subject property.
‘The introduction of our Conforming Elite program now positions 360 Mortgage as the one-stop/go-to wholesale lender for both top tier mortgage products and higher LTV loans such as HARP,’ says Mark Greco, president and founder of 360 Mortgage.
Greco adds that the introduction of the program means ‘mortgage brokers now can benefit from two additional key value propositions, an expanded product portfolio and the most competitive pricing in the wholesale channel, to help clients with top credit scores and low LTV purchase or refinance of a home.’
Austin, Texas-based 360 Mortgage Group was recently named to the 2013 Inc. 5000 list of America's Fastest Growing Companies. The company ranked 1,378 on this year's list, with a three-year growth rate of 293%.
For more information on the new program, click here.
