IRVINE, Calif., Aug. 1, 2018 /PRNewswire/ -- In a revolutionary move, LoanStream Mortgage (LSM) has expanded its non-qualified (Non-QM) offering to include products such as loan amounts to $10m, LTV's to 95%, loans for ITIN only borrowers (federal tax ID instead of social security number), interest-only options, 40-year term options and more options for first-time homebuyers. LSM has also introduced various streamlined income options such as 12 months business bank statement, VOE and profit/loss (P&L) only.
LSM's CEO, Rabi Aziz shared in a statement, "We were one of the first to enter this market in 2013. Performance data has exceeded expectations for this underserved segment of the market. We feel very confident in introducing new programs and expanding access to homeownership."
With many unique loan programs, LSM has branded itself with retail branches, mortgage brokers and mortgage bankers as "The One Lender." "It is our goal to provide multi-channel access to a broad array of loan programs. We don't want our branches, brokers or bankers to need any other lender. We are in hiring mode, looking for sales representatives, mortgage companies and branches who want to sell our broad array of products," said Serene Vernon, the company's COO.
About LoanStream Mortgage
LoanStream Mortgage (LSM) is a registered DBA of OCMBC, Inc., headquartered in Irvine, CA. LSM is a privately held diversified mortgage lender specializing in residential financing through mortgage brokers, bankers and through its consumer direct branch network. LSM has been focused on the residential mortgage lending market for over 30 years. As a multi-channel lender with a strong foundation of conventional agency and government products, LSM was one of the market leaders in non-agency, non-qualified mortgages.
SOURCE LoanStream Mortgage