New programs recently being offered by wholesale mortgage lenders include nonprime programs, high loan-to-value jumbo loans and a product for foreign national borrowers.
A promotional notice from Citadel Servicing Corp. indicated that it now offers nonprime loans for borrowers with FICO scores as low as 500 and loan amounts up to $750,000.
Borrowers whose FICO scores are at least 600 can qualify for loan amounts as high as $3 million, according to the notice from the Irvine, California-based mortgage banking firm.
Source: Mortgage Daily
