A nonprime correspondent investor has raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don’t meet Qualified Mortgage requirements.

Verus Mortgage Capital says that it is a full-service correspondent investor that purchases loans in all 50 states and focuses solely on the non-QM market.

On Tuesday, the Washington-based company announced that it has increased the maximum loan amount for several of its non-QM programs from $2 million to $5 million.

Source: Mortgage Daily