Verus Mortgage Capital, a non-QM correspondent investor backed by Invictus Capital Partners, recently increased loan amounts and debt-to-income ratios for its Investor Solutions Program.
Specifically, loan amounts have been increased to $5 million from $2 million and DTIs have been increased to 50% from 43%.
In addition, Verus’ bank statement programs and debt service coverage ratio can now go up to 80% from 75%.
“At Verus Mortgage Capital, we’re committed to providing lenders with solutions for their investment property borrowers that are underwritten to borrower or property income,” says Dane Smith, president of Verus Mortgage Capital, in a release. “Our focus is to offer lenders expansive options to meet the needs of unconventional borrowers.”
Verus Mortgage Capital purchases loans in all 50 states and the District of Columbia and focuses solely on the non-QM market. It offers correspondent lenders a wide range of home financing products for credit worthy borrowers.
The Washington, D.C.-based company, with operations located in Minneapolis, has purchased just under $2.6 billion in expanded, non-QM loans since its inception.
In addition, through its affiliates, Verus has completed six rated securitizations.