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Verus Mortgage rolls out second-lien mortgage program

VMC’s second-lien mortgage option offers a fixed interest rate and monthly payment for primary residences and stand-alone transactions, with a maximum loan cap of up to $500,000. Other requirements include a CLTV of 90%, a minimum credit score of 680, and standard income documentation of two years.

Read more: Verus raises $606 million for non-QM securitization deal

Backed by investment firm Invictus Capital Partners, VMC purchases loans in all 50 states and the District of Columbia and focuses solely on the non-agency market. The Washington, D.C.-headquartered company, with operations located in Minneapolis, has purchased over $22 billion in expanded, non-agency loans since its inception in 2015.

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