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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: firstname.lastname@example.org.
25K 4M 80 PRCYYYYYYY 30 YYYYYY 275 YYYYY YYYYY
CA A subprime-direct lender. Fund owner & non-owner max 80% LTV. Stated & no-doc, no FICO programs.
1st & 2nd loans. Residential, apartment & commercial. Rates start at 7.99%.
500K 10M 9060PRCYYYYYY U YYY Y YY YYY Y
AZ CA CO FL OR TX WA We fund “make-sense” loans when traditional channels will not & make exceptions based on compensating factors.
GreenBox Loans Inc.
150K 2.5M 90 55PRCYYYYYY U Y Y Y YYYYY
HomeXpress Mortgage Corp.
AZ CA CO CT DE FL GA ID IL LA MD MI MS NC NJ OH OK OR PA TX VA WA Greenbox thinks outside the box with a common-sense approach in
helping qualified borrowers obtain the financing they need.
100K 2M 90 50 PRC Y Y Y Y Y 20 Y Y 25 Y Y Y Y Y Y Y
NATIONWIDE except: AK DE HI IA KY LA MA ME MI MN MO MS MT ND NE NH NM NY OK RI SD VT WV WY Creditscoresstartingat500.
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 innon-agencyprogramoptionssuch as 6to 12months bank
statements for self-employed, no income or asset verifications for investments and with I/O 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 allow us to shopour 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
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