Launch reflects the company's dedication to "finding a solution" for underserved borrowers
Non-agency lender Diamond Residential Mortgage Corporation (DRMC) has rolled out a new loan product designed for borrowers that live and work in the US but who do not have standard citizenship.
The Illinois-based mortgage banker has announced the launch of its ITIN mortgage offering. DRMC said the product is in line with its advocacy to address the inequities in the mortgage market by providing solutions for underserved borrowers.
“The current mortgage market has proven to be quite the challenge for many borrowers,” said Kris Brian, senior vice president of mortgage products at DRMC. “That is why DRMC has stayed committed to the goal of finding a solution for all borrowers, including those underserved by the traditional mortgage industry.”
In addition to ITIN loans, DRMC offers other non-traditional mortgages such as down payment assistance, refinance programs, and flexible income review options for self-employed borrowers.
Read more: Non-QM lender Diamond Residential Mortgage tops $1 billion in loan
“I have seen even the most deflated borrowers come to DRMC after being turned away by countless other mortgage lenders and find success in obtaining a loan,” said Richard Smith, executive vice president of national production. “With a continued commitment, catered solutions, and diligent problem-solving, we continue to find ways to get loans across the finish line.”
