Products designed to "help an underserved, growing base of non-traditional borrowers"
Arc Home is bringing new proprietary non-QM loan offerings to the market to “meet the needs of a changing residential finance market,” the company announced on Wednesday.
The New Jersey-based mortgage lender and servicer has released its new Access Non-QM and Elite QM Non-Agency products through its delegated correspondents.
According to Arc, the Access product suite includes non-QM features and loan offerings such as 12-24 month bank statements, DSCR, Agency Plus and Clean Slate options. Meanwhile, the Arc Home Elite loan program provides options for “high-quality borrowers who fall outside the parameters of a traditional jumbo product or require alternative income documentation options.”
“One of the reasons we built these products was to help an underserved, growing base of non-traditional borrowers that are looking to secure the right mortgage for their dream homes and investments,” said Arc Home CEO Richard Bradfield.
Read more: Arc Home Loans gets a facelift with a new non-QM product
The company said that the launch of these programs to delegated correspondents “continues Arc Home’s tradition of providing innovative financial products in the residential lending market matched with superior customer service.”
“We see the demand for stability and liquidity from correspondent lenders, and Arc Home is well-positioned to be their lender of choice. Our unwavering commitment to product innovation is the lifeblood of Arc,” Bradfield added.
