Firm says it is smarter and stronger since the recession
New alternative loans for the self employed and others who do not meet the criteria of traditional mortgage lenders have been launched by a California lender.
Tress Financial Group says it has been hard to get stated income, no-documentation, and subprime loans since the Great Recession and subsequent Dodd-Frank act; but it hopes to make home ownership a reality for non-traditional borrowers.
"We've survived one of the largest financial collapses in this country's history and came out stronger and smarter," said Jeff Miller, CEO & Broker. "And with so many people working for themselves or generating income in new ways nowadays, we want to ensure these people, even they've been turned down by more traditional lenders, know there are options for them for mortgages and refinancing."
The lender will offer bank-statement-only programs and products for those with low credit scores; and shorter waiting periods between events such as deed in lieu, foreclosure, and bankruptcy.
The Orange County lender was founded in 2003 and has grown through strategic alliances with real estate agents, CPAs and financial planners.
