Matrix: Nonprime Niches
Post your loan: ScotsmanGuide.com/LoanPost Search matrix: ScotsmanGuide.com/NonprimeNiches
Scotsman Guide makes every attempt to ensure the quality of matrix and directory information, which all listed lenders verify or update monthly. Because of the production cycle and dynamic nature of the industry, loan product
terms and availability may not reflect the latest changes. Please contact lenders directly for the most-recent program details. If you believe data is inaccurate or misrepresented, please e-mail: email@example.com.
Tell lenders you found them in Scotsman Guide
HomeXpress Mortgage Corp.
100K 2M 90 50 PRC Y Y Y Y Y 20 Y Y 25 Y Y Y Y Y Y Y
AZ CA CO CT DC FL GA ID IL MD NC NJ NV OH OR PA SC TX UT WA Credit scores starting at 500. Short-term rental program.
Alternative documentation programs. Lease options treated as refi. No DSCR program.
75K 2.5M 9550PRCYYYYYY U Y Y YYYY
AL AZ CA CO DC FL GA HI ID MD NC NJ NV OH OR TN TX UT VA WA A leader in non-agencyprogramoptionssuch as 6to 12months bank
statements for self-employed, no income or assets verifications for investments and with IO options.
150K 2M 75 0 PRC Y Y Y U Y Y Y Y Y Y
AZ CA CO DC FL GA IL IN KY LA MA MD MN MT NC NJ NM NV OK OR TX UT WA WI Special investor programs withno-doc I/Ooptions.
No income, no assets and no post-close reserve requirements. OCMBC Inc. dba LoanStream NMLS No. 2125
Mortgage Assurance Inc.
75K 2M 90 43 PRC Y Y 10 Y 10 Y
AL CO CT FL GA IL IN KY LA MD ME MN NC NH PA SC TN TX VA WA Trustedsince 1997, multiple investors allowus to shop our rates.
Call or e-mail for more info on our ECOP product.
75K 4M 90 59PRCYYYYYY U YY 10 Y Y YYYYY
NATIONWIDE except: HI MA MO NY UT VA Sprout Mortgage/Recovco Mortgage Management blazes the NP trail with LPC, rates starting in the 4%s, no ratio
NOOs, bank statement loans, N-W condos and loan sizes to $4M.
The Nonprime Niches describes
mortgages for borrowers and property
types that cannot meet Qualified
Mortgage (QM) standards. This matrix
assumes 1-4 unit residential properties.
Maximums may not apply to all borrower,
property or loan types.
1 Minimum loan amount ($K)
2 Maximum loanamount ($K)
3 Maximum LTV%
4 Maximum DTI%
R=rate & term refi;
LOAN LIMITS CREDIT AND BORROWERS PROPERTY TYPES LOAN CHARAC TERISTICS
13 Max. of financed properties allowed;
14 Non-warrantable condominiums
17 Mobile/manufactured homes post 1976
18 Mobile/manufactured homes pre 1976
19 Few comps: berm, log, modern
20 Max. of acres for rural and/or on acreage;
21 Vacant land
22 Zoned other than residential
6 Alt-doc (bank
7 Asset depletion
9 Stated income/
10 Foreign nationals,
11 Foreign nationals,
12 Property in probate, heirs
23 Balloon loan offered
24 Business-purpose loans
25 Cross-collateral (blanket loans)
27 Hybrid ARM
28 Interest only
29 No-seasoning refinance
30 No prepayment penalty
31 OK: foreclosure, bankruptcy,
short sale, NOD, NOS
32 Second mortgages/trust deeds
LENDERNAME 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32
Interested in more from the commercial edition
of Scotsman Guide? Read the digital edition at
sg-comdigital.com or get your own subscription
READ MORE IN
❉ ❉ ❉ ❉ ❉ ❉ ❉ ❉
Capitalize on community
Paid advertisement | More onthis advertiser onPages 4 and 5
commercial real estate:
Paid advertisement | Moreon thisadvertiser on Pages 4 and 5
Poorjudgmentcan killyourbusiness 51 Fix-and-flipcanbea lucrativeadventure 58
Loanapprovalsaren’t aboutnumbersalone 46
Spotlight:NewHampshire TheGraniteState’seconomy isrocksolid: Page28
Diversification: Cultivateprivatelenders toexpandyourbase: Page31
❉ ❉ ❉ ❉ ❉ ❉ ❉ ❉
will alter lending
Volume 17: Issue 12
Paid advertisement | More on this advertiser on Pages 4 and 5
How to amplify
your loan pitch:
Data & Analytics
Let data drive