A&D Mortgage is working to solidify its place in residential mortgage lending by improving its FHA loan programs.
Following on the heels of acquiring the conventional and correspondent lending division of Mr. Cooper, the company reports that it is making improvements that benefit borrowers and A&D partners.
This includes setting a minimum FICO of only 580, increasing eligibility for more borrowers, and implementing manual underwriting to provide more flexibility than automated guidelines.
What’s more, the lender is offering temporary buydowns in the early years of mortgages to reduce payments.
“The new FHA enhancements illustrate our commitment to our partners and customers to provide the lending vehicles they need to close deals and realize their dreams,” says Max Slyusarchuk, CEO of A&D Mortgage, in a release. “We believe that the new flexibility will generate additional interest in our programs for borrowers and help develop and maintain excellent relationships with our partners.”