First Guaranty Mortgage Corp. (FGMC) is again offering Maverick Solutions, the company’s proprietary non-QM product line, and officially released the Achiever Expanded Credit, Champion Prime Jumbo and Visionary Investment products for wholesale and non-delegated delivery.
“Non-QM is a sector of the market that we are passionate about,” CEO Aaron Samples says. “We are committed to being leaders in the non-QM space and continuing to tell the unique stories of today’s borrowers through our products.”
The Achiever Expanded Credit product allows credit scores as low as 640 and loan amounts up to $2 million. The Champion Prime Jumbo product allows credit scores as low as 680 and loan amounts up to $3 million. The Visionary Investment product allows borrowers to qualify using the cashflow of the subject property and has a debt service coverage ratio of 1.15%.
“I am thrilled to be a part of the FGMC team as we dive back into non-QM,” says non-QM business development manager, Paul Jones. “Maverick Solutions helps create possibilities for those who may be self-employed or who fall just outside the agency guidelines. It’s exciting to bring more opportunities to our partners and expand the mortgage options available to today’s borrowers.”
To help support partners and clients, FGMC offers educational resources, a quick qualification tool that is powered by LoanNEX and a non-QM structure desk. Brokers or correspondents can send inquiries to the Maverick Solutions desk at nonqm@fgmc.com.