Sellers of $3 million prime residential mortgage portfolios are the target of two newly launched programs.
American Home Mortgage Investment Corp. launched "two new acquisition strategies," according to an announcement today.
One of the programs, dubbed the "Mini Bulk," enables sellers with minimum portfolios of $3 million to unload Alt-A, MTA and jumbo mortgages, American Home said.
"We will purchase loans originated to customers' guidelines and also provide bids off of a data tape," the Melville, N.Y.-based company said.
The "Live Mandatory" program, found online at www.ahmcd.com, targets agency paper slated for secondary buyers Freddie Mac and Fannie Mae, the statement said.
"We offer a quick review of loan files, rapid approval and a flexible extension policy," American Home promised in the announcement.